UBER TECHNOLOGIES Reports Record Q3 Earnings for FY2023

🌥️Earnings Overview

UBER TECHNOLOGIES ($NYSE:UBER) reported spectacular financial results for the 3rd quarter of FY2023, which concluded on September 30 2023. Total revenue soared 11.4% year-on-year to USD 9292.0 million, while net income skyrocketed 118.3% compared to the same period last year to USD 221.0 million.

Price History

On Tuesday, UBER TECHNOLOGIES reported record Q3 earnings for FY2023, with their stock opening at $47.0 and closing at $49.9, up by 3.7% from the previous closing price of $48.1. The strong earnings report has led to analysts reiterating their “buy” ratings on UBER TECHNOLOGIES, with many predicting it will have a strong fourth quarter as well. They are confident that the company will be able to maintain its strong performance throughout FY2023. Investors are bullish on the stock and look forward to further growth in the coming months. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Uber Technologies. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Uber Technologies. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Uber Technologies. More…

Key Ratios Snapshot

Some of the financial key ratios for Uber Technologies are shown below. More…

Analysis

At GoodWhale, we conducted an analysis of UBER TECHNOLOGIES‘ wellbeing and classified them as a ‘gorilla’ based on their Star Chart. This type of company is one that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given this, investors who are looking for high growth potential and returns may be interested in UBER TECHNOLOGIES. While the company has strong growth and profitability potential, their weak asset and dividend score should be taken into consideration. Additionally, the company has a low health score of 2/10 with regard to its cashflows and debt, making them less likely to safely ride out any crisis without the risk of bankruptcy. More…

Peers

As the world progresses, new technologies are constantly emerging and reshaping the way we live. One of the most recent and influential technological advancements is the rise of ride-sharing apps, such as Uber Technologies Inc. These apps have changed the way we travel, and have had a profound impact on the taxi industry. While Uber has become the most well-known and successful ride-sharing app, it faces stiff competition from other companies, such as Trend Innovations Holding Inc, Waitr Holdings Inc, and Where Food Comes From Inc.

– Trend Innovations Holding Inc ($OTCPK:TREN)

Innovative Holding Inc is a publicly traded holding company with a focus on technology investments. The company’s market cap as of 2022 was 58.02M and its ROE was 81.69%. Innovative Holding Inc’s portfolio includes investments in companies such as AppDirect, Cloud Elements, and Icertis. These companies provide software that helps businesses manage their operations, customers, and suppliers.

– Waitr Holdings Inc ($NASDAQ:WTRH)

Waitr Holdings Inc is a food delivery service company. It operates in the United States and has a market cap of 26.59M as of 2022. The company has a Return on Equity of -127.21%.

Waitr Holdings Inc was founded in 2013 and is headquartered in Lake Charles, Louisiana. The company operates in the restaurant industry and provides food delivery services to its customers. It delivers food from local restaurants to its customers through its app. The company has a fleet of drivers who pick up and deliver food to its customers.

– Where Food Comes From Inc ($NASDAQ:WFCF)

Food Comes From Inc. is a company that helps farmers and food producers to connect with consumers and sell their products. The company has a market cap of 70.04M as of 2022 and a Return on Equity of 17.04%. The company has a strong focus on sustainability and works to promote sustainable practices among its farmers and food producers. The company also works to educate consumers about where their food comes from and the importance of supporting sustainable agriculture.

Summary

UBER TECHNOLOGIES reported strong financial results for the third quarter of FY2023, with total revenue increasing 11.4% year-over-year to USD 9292.0 million and net income surging 118.3% year-over-year to USD 221.0 million. This impressive financial performance was reflected in the stock price, which moved up the same day. With these results, UBER TECHNOLOGIES appears to be a solid investment opportunity for investors looking to benefit from the company’s success. The company has a strong track record of consistent growth and profitability, making it an attractive option for long-term investors seeking to diversify their portfolios.