Uber Stock Rallies After Strong Q2, But Can It Hold the Gains?
TLDR
- Uber rose 3.4% after Q2 EPS of $0.81 beat the $0.80 consensus estimate
- Revenue came in at $14.19 billion, up 12.2% year over year, slightly below the $14.24 billion forecast
- Gross bookings jumped 24% to $58 billion; adjusted EBITDA rose 33% to $2.8 billion
- Q3 EPS guidance of $0.84-$0.88 came in below analyst consensus of $0.89-$0.91
- Analysts hold a โModerate Buyโ consensus with an average price target of $104.25
Uber Technologies (UBER) jumped 3.4% on Thursday after the company posted a stronger-than-expected second quarter. The stock traded as high as $71.37 before closing at $70.51, up from its prior close of $68.18.
Q2 EPS came in at $0.81, beating the $0.80 consensus by a penny. Revenue reached $14.19 billion, up 12.2% from the same period last year, though it fell just short of the $14.24 billion analyst estimate.
Volume was notably elevated. Around 31 million shares changed hands, a 59% jump from the average daily session volume.
The underlying numbers were strong. Gross bookings climbed 24% to roughly $58 billion, and trips rose 18% to 3.9 billion. Monthly active platform consumers grew 16% to 208 million.
โฆ Continue reading the full article at the original source below.
