From Last One Week The $UBER Stock Price Seems Riding Down

Uber Technologies Inc (NYSE:UBER) provides a platform that allows users to access transportation and food ordering services. This globally well-known company operates through two segments: Core Platform that consists of Ridesharing and Uber Eats, and Other Bets which consists of Uber Freight and New Mobility platforms.

The ride-hailing giant Uber currently has a market cap of $66.613 Billion. Its earnings for the last quarter are $0.29 whereas the estimation was -$0.15 which accounts for 287.80% surprise. Uber revenue for the same period amounts to $8.61 Billion despite the estimated figure of $8.51 Billion. For the next quarter, estimated earnings are -$0.07, and revenue is expected to reach $8.62 Billion.

$UBER stock price analysis

Last week price analysis of $UBER stock experienced around 7% of decline in its stock price. Meanwhile, it is up by 14.31% in the last one month and 13.18% in the last 6 months. The year to date price performance of Uber stock is also up by 31.65%.

On its last day of trading, Uber closed at $33.40, with 3.10% of decline in its share price. It gave its one week low at $33.09 and high at $36.73, according to the data sourced by Tradingview.

Uber’s financial results for Q4 2022

Earlier this month, Uber Technologies Inc announced its financial results for the quarter. According to its Q4 2022 financial highlights, “Gross Bookings grew 19% year-over-year (“YoY”) to $30.7 billion, or 26% on a constant currency basis, with Mobility Gross Bookings of $14.9 billion and Delivery Gross Bookings of $14.3 billion. Trips during the quarter grew 19% YoY to 2.1 billion, an all-time quarterly high that is approximately 23 million trips per day on average. Revenue grew 49% YoY to $8.6 billion, or 59% on a constant currency basis.”

Dara Khosrowshahi, Chief Executive Officer of Uber said after the results that “we ended 2022 with our strongest quarter ever, with robust demand and record margins. Our global scale and unique platform advantages position us well to accelerate this momentum into 2023.”

Additionally, Nelson Chai, Chief Financial Officer of Uber said “In 2022, we significantly exceeded our profitability outlook, with an incremental margin of 10%. Our outlook for a Gross Bookings and Adjusted EBITDA step up in Q1 builds on that progress, and sets us up for yet another record year.”

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing