Uber Issues Soft Q3 Outlook, Shares Drop 4.2% Despite Q2 Beat
UBER is trading near its 52-week low of $65.41 (5.1% above the low).
Summary
Uber's Q2 revenue rose 12% to $14.19B, missing the $14.24B consensus, while adjusted EPS of $0.81 beat by a penny. The real sting is Q3 guidance: adjusted EPS of $0.84-$0.88 vs. $0.87 expected, and gross bookings of $58.25B-$60.25B bracketing the $59.33B estimate. Delivery revenue surged 28% to $5.24B, but mobility growth slowed to 1%. Shares fell 4.2% premarket. This follows the $14.8B Delivery Hero acquisition announced in July — the soft forecast raises questions about integration costs and demand. Watch for management commentary on the call about autonomous vehicle investments and the Delivery Hero deal closing.
At the time of this announcement, UBER was trading at $68.77 on NYSE in the Trade & Services sector, with a market capitalization of approximately $146.5B. The 52-week trading range was $65.41 to $101.99. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.