Ride sharing and on demand delivery service Uber (NYSE: NYSE:UBER) will be reporting earnings tomorrow before market open. Here's what you need to know.
Last quarter Uber reported revenues of $9.29 billion, up 11.4% year on year, missing analyst expectations by 2.6%. It was a weak quarter for the company, with a miss of analysts' revenue estimates and slow revenue growth. The company reported 142 million users, up 14.5% year on year.
Is Uber buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Uber's revenue to grow 13.4% year on year to $9.76 billion, slowing down from the 49% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.39 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Uber's peers in the consumer internet segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Netflix (NASDAQ:NFLX) delivered top-line growth of 12.5% year on year, beating analyst estimates by 1.4% and Meta (NASDAQ:META) reported revenues up 24.7% year on year, exceeding estimates by 2.4%. Netflix traded up 4.4% on the results, and Meta was up 20.3%.
Read the full analysis of Netflix's and Meta's results on StockStory.
Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks down on average 1.7% over the last month. Uber is up 17.7% during the same time, and is heading into the earnings with with analyst price target of $68.8, compared to share price of $69.5.
The author has no position in any of the stocks mentioned.
