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Uber Technologies (UBER) Stock Down 3.5% Since Q3 Earnings
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Uber Technologies, Inc. (UBER - Free Report) stock has declined 3.5% since its third-quarter 2022 earnings release on Nov 1. The company incurred a loss of 61 cents per share in the third quarter of 2022, wider than the Zacks Consensus Estimate of a loss of 17 cents. In third-quarter 2021, Uber reported earnings of 23 cents per share.
Total revenues of $8,343 million outperformed the Zacks Consensus Estimate of $8,076.5 million. The top line jumped 72% year over year, backed by contribution from the acquisition of Transplace by Uber Freight and change in the business model for the company’s UK Mobility business.
In the reported quarter, majority (60%) of the company’s revenues came from Mobility. Revenues from this segment jumped 73% year over year to $3,822 million. Revenues from the Delivery segment increased 24% year over year to $2,770 million. Freight revenues climbed to $1,751 million from $402 million in the year-ago period, thanks to the acquisition of Transplace.
Uber Technologies, Inc. Price, Consensus and EPS Surprise
Total revenues soared 89% year over year to $5,000 million in the United States and Canada. While revenues increased 33% to $518 million in Latin America, the same skyrocketed 77% to $1,878 million in Europe, the Middle East and Africa. Revenues rose 27% to $947 million in the Asia-Pacific region. Monthly active platform consumers jumped 14% to 124 million.
Adjusted EBITDA in the third quarter was $516 million compared with adjusted EBITDA of $8 million in the year-ago period. Total costs and expenses surged 63.2% year over year to $8,838million.
Gross bookings from Mobility improved 38% to $13,684 million. Gross bookings from Delivery augmented by 7% to $13,684 million. Gross bookings from Freight increased to $1,751 million in the third quarter from $402 million in the year-ago quarter. Total gross bookings ascended 26% to $29,119 million.
Uber exited the third quarter with cash and cash equivalents of $4,865 million compared with $4,397 million at the end of June 2022. Long-term debt, net of current portion at the end of the reported quarter, was $9,268 million compared with $9,271 million at June 2022-end.
Operating cash flow came in at $432 million compared with $614 million in the year-ago quarter. The free cash flow was $358 million compared with $524 million in the year-ago quarter.
Q4 Guidance
For the fourth quarter, Uber expects gross bookings of $30 billion-$31 billion. Adjusted EBITDA is estimated to be $600 million-$630 million.
A better-ranked stock in the broader Computer and Technology sector is Sierra Wireless, Inc. , carrying a Zacks Rank #2 (Buy). SWIR has a long-term earnings growth expectation of 15% and delivered an earnings surprise of 229.93%, on average, in the trailing four quarters.
SWIR has an expected earnings growth rate of more than 100% for the current year.
HealthStream (HSTM - Free Report) carries a Zacks Rank #2. HSTM has a long-term earnings growth expectation of 10% and delivered an earnings surprise of 156.25%, on average, in the trailing four quarters.
HSTM has an expected earnings growth rate of 58.33% for the current year.
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Uber Technologies (UBER) Stock Down 3.5% Since Q3 Earnings
Uber Technologies, Inc. (UBER - Free Report) stock has declined 3.5% since its third-quarter 2022 earnings release on Nov 1. The company incurred a loss of 61 cents per share in the third quarter of 2022, wider than the Zacks Consensus Estimate of a loss of 17 cents. In third-quarter 2021, Uber reported earnings of 23 cents per share.
Total revenues of $8,343 million outperformed the Zacks Consensus Estimate of $8,076.5 million. The top line jumped 72% year over year, backed by contribution from the acquisition of Transplace by Uber Freight and change in the business model for the company’s UK Mobility business.
In the reported quarter, majority (60%) of the company’s revenues came from Mobility. Revenues from this segment jumped 73% year over year to $3,822 million. Revenues from the Delivery segment increased 24% year over year to $2,770 million. Freight revenues climbed to $1,751 million from $402 million in the year-ago period, thanks to the acquisition of Transplace.
Uber Technologies, Inc. Price, Consensus and EPS Surprise
Uber Technologies, Inc. price-consensus-eps-surprise-chart | Uber Technologies, Inc. Quote
Total revenues soared 89% year over year to $5,000 million in the United States and Canada. While revenues increased 33% to $518 million in Latin America, the same skyrocketed 77% to $1,878 million in Europe, the Middle East and Africa. Revenues rose 27% to $947 million in the Asia-Pacific region. Monthly active platform consumers jumped 14% to 124 million.
Adjusted EBITDA in the third quarter was $516 million compared with adjusted EBITDA of $8 million in the year-ago period. Total costs and expenses surged 63.2% year over year to $8,838million.
Gross bookings from Mobility improved 38% to $13,684 million. Gross bookings from Delivery augmented by 7% to $13,684 million. Gross bookings from Freight increased to $1,751 million in the third quarter from $402 million in the year-ago quarter. Total gross bookings ascended 26% to $29,119 million.
Uber exited the third quarter with cash and cash equivalents of $4,865 million compared with $4,397 million at the end of June 2022. Long-term debt, net of current portion at the end of the reported quarter, was $9,268 million compared with $9,271 million at June 2022-end.
Operating cash flow came in at $432 million compared with $614 million in the year-ago quarter. The free cash flow was $358 million compared with $524 million in the year-ago quarter.
Q4 Guidance
For the fourth quarter, Uber expects gross bookings of $30 billion-$31 billion. Adjusted EBITDA is estimated to be $600 million-$630 million.
Zacks Rank & Stock to Consider
Currently, Uber Technologies carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A better-ranked stock in the broader Computer and Technology sector is Sierra Wireless, Inc. , carrying a Zacks Rank #2 (Buy). SWIR has a long-term earnings growth expectation of 15% and delivered an earnings surprise of 229.93%, on average, in the trailing four quarters.
SWIR has an expected earnings growth rate of more than 100% for the current year.
HealthStream (HSTM - Free Report) carries a Zacks Rank #2. HSTM has a long-term earnings growth expectation of 10% and delivered an earnings surprise of 156.25%, on average, in the trailing four quarters.
HSTM has an expected earnings growth rate of 58.33% for the current year.