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Uber (UBER) to Report Q3 Earnings: What's in the Offing?
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Uber Technologies (UBER - Free Report) is scheduled to report third-quarter 2020 earnings numbers on Nov 5, after market close.
Let’s take a look at the factors that are expected to have influenced the company’s third-quarter performance.
With coronavirus concerns continuing unabated and most people confining themselves to their homes, Uber’s Mobility business is expected to have experienced substantial weakness in the third quarter. The Zacks Consensus Estimate for revenues from the Mobility segment indicates a 47.3% decline from the year-ago reported number. The same for gross bookings suggests an approximate 50% drop from the third-quarter 2019’s reported figure.
However, the company’s Delivery business is anticipated to have put up a strong performance in the to-be-reported quarter as has been the case in the last two reported quarters, thanks to the pandemic-driven surge in online order volumes. The consensus mark for Delivery revenues in the third quarter hints at more than 100% jump from the year-ago reported number. The same for gross bookings also shows more than 100% rise from third-quarter 2019 reported figure.
Additionally, cost-cutting measures are expected to have supported the company’s bottom line. Akin to the past few quarters, adjusted EBITDA loss is likely to have narrowed in third-quarter 2020 as well.
Our proven Zacks model does not conclusively predict a beat for Uber this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. However, that is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Uber has an Earnings ESP of -11.06% as the Most Accurate Estimate is pegged at a loss of 66 cents, wider than the Zacks Consensus Estimate of a loss of 59 cents.
Zacks Rank: Uber carries a Zacks Rank #3.
Highlights of Q2 Earnings
In the last-reported quarter, Uber incurred a loss of $1.02 per share, wider than the Zacks Consensus Estimate of a loss of 78 cents. However, the amount of loss narrowed by 78.4% year over year. Meanwhile, total revenues of $2,241 million surpassed the Zacks Consensus Estimate of $2,175.6 million. The top line plunged 29.2% year over year due to weakness in the ride-hailing segment, thanks to coronavirus confining people to their homes.
Stocks to Consider
Investors interested in the broader Computer and Technology sector may consider Advanced Energy Industries (AEIS - Free Report) , Alteryx and TMobile US (TMUS - Free Report) as these stocks possess the right combination of elements to beat on earnings this reporting cycle.
Alteryx has an Earnings ESP of +3.09% and a Zacks Rank #3.
TMobile has an Earnings ESP of +23.45% and a Zacks Rank of 3.
Each of the companies mentioned above will release third-quarter 2020 results on Nov 5.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>
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Uber (UBER) to Report Q3 Earnings: What's in the Offing?
Uber Technologies (UBER - Free Report) is scheduled to report third-quarter 2020 earnings numbers on Nov 5, after market close.
Let’s take a look at the factors that are expected to have influenced the company’s third-quarter performance.
With coronavirus concerns continuing unabated and most people confining themselves to their homes, Uber’s Mobility business is expected to have experienced substantial weakness in the third quarter. The Zacks Consensus Estimate for revenues from the Mobility segment indicates a 47.3% decline from the year-ago reported number. The same for gross bookings suggests an approximate 50% drop from the third-quarter 2019’s reported figure.
However, the company’s Delivery business is anticipated to have put up a strong performance in the to-be-reported quarter as has been the case in the last two reported quarters, thanks to the pandemic-driven surge in online order volumes. The consensus mark for Delivery revenues in the third quarter hints at more than 100% jump from the year-ago reported number. The same for gross bookings also shows more than 100% rise from third-quarter 2019 reported figure.
Additionally, cost-cutting measures are expected to have supported the company’s bottom line. Akin to the past few quarters, adjusted EBITDA loss is likely to have narrowed in third-quarter 2020 as well.
Uber Technologies, Inc. Price and EPS Surprise
Uber Technologies, Inc. price-eps-surprise | Uber Technologies, Inc. Quote
What the Zacks Model Unveils
Our proven Zacks model does not conclusively predict a beat for Uber this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. However, that is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Uber has an Earnings ESP of -11.06% as the Most Accurate Estimate is pegged at a loss of 66 cents, wider than the Zacks Consensus Estimate of a loss of 59 cents.
Zacks Rank: Uber carries a Zacks Rank #3.
Highlights of Q2 Earnings
In the last-reported quarter, Uber incurred a loss of $1.02 per share, wider than the Zacks Consensus Estimate of a loss of 78 cents. However, the amount of loss narrowed by 78.4% year over year. Meanwhile, total revenues of $2,241 million surpassed the Zacks Consensus Estimate of $2,175.6 million. The top line plunged 29.2% year over year due to weakness in the ride-hailing segment, thanks to coronavirus confining people to their homes.
Stocks to Consider
Investors interested in the broader Computer and Technology sector may consider Advanced Energy Industries (AEIS - Free Report) , Alteryx and TMobile US (TMUS - Free Report) as these stocks possess the right combination of elements to beat on earnings this reporting cycle.
Advanced Energy Industries has an Earnings ESP of +1.03% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Alteryx has an Earnings ESP of +3.09% and a Zacks Rank #3.
TMobile has an Earnings ESP of +23.45% and a Zacks Rank of 3.
Each of the companies mentioned above will release third-quarter 2020 results on Nov 5.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>