Uber TechnologiesNYSE: UBER

Uber (UBER) reported third quarter results, beating Wall Street expectations on both revenue and earnings. The rideshare platform posted revenue of $11.19 billion, surpassing estimates of $10.99 billion.

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Uber (UBER) released its third quarter results on Thursday, exceeding what analysts had predicted for both revenue and earnings. The rideshare company reported a revenue of $11.19 billion, which is higher than the expected $10.99 billion.

Uber is exploring opportunities for growth outside of big cities as its membership program sees a significant rise. On October 31, the company announced its quarterly earnings, revealing that the Uber One program has surpassed 25 million members, marking a 70% increase compared to last year.

In the third quarter of 2024, UBER's earnings and revenues have increased compared to the same period last year.

Andy Swan from @LikeFolio believes that Wall Street misinterpreted Uber Technologies' (UBER) earnings report. He highlights reasons that suggest Uber will continue to lead the rideshare market, even with financial challenges facing consumers.

Josh Brown has kept his investment, while Joe Terranova has sold his. Don't miss today's discussion on the #ChartOfTheDay!

The increase in bookings, an important indicator of how many people are using online taxi services, dropped to its lowest point in over a year during the third quarter and did not meet analysts' expectations.

Uber Technologies, Inc. (NYSE:UBER) will hold its Q3 2024 Earnings Conference Call on October 31, 2024, at 8:00 AM ET. The call will feature company leaders including CEO Dara Khosrowshahi and CFO Prashanth Mahendra-Rajah. Deepa Subramanian, the Vice President of Investor Relations, will now take over to begin the call.