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Uber Q3 revenue rises 10%, slightly beats estimates

By Reuters News


Overview

  • Ride-hailing platform's Q3 revenue grew 10% yr/yr, slightly beating analyst expectations

  • Adjusted EPS for Q3 rose 35% yr/yr but missed analyst estimates

  • Company's gross bookings grew 20% yr/yr, driven by record consumer engagement


Outlook

  • Uber sees Q4 gross bookings of $63.25 bln to $65.25 bln, up 18-22% YoY

  • Uber forecasts Q4 non-GAAP EPS of $0.95 to $0.99, up 34-39% YoY

  • Company expects Q4 adjusted EBITDA of $3.13 bln to $3.23 bln


Result Drivers

  • CONSUMER ENGAGEMENT - Co said gross bookings growth was driven by record audience and consumer engagement, per CEO Dara Khosrowshahi

  • TRIP AND USER GROWTH - Trips grew 16% yr/yr to 4.1 bln, driven by 14% MAPC growth and a 2% rise in monthly trips per MAPC

  • EQUITY REVALUATIONS AND TAX – Net income fell to $512 mln as Q3 included a $476 mln equity-investment revaluation loss versus prior-year tax and investment gains


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Beat*

$14.77 bln

$14.70 bln (45 Analysts)

Q3 Adjusted EPS

Miss

$0.88

$0.96 (39 Analysts)

Q3 Net Income

$512 mln

Q3 Free Cash Flow

$2.54 bln

Q3 Gross Bookings

$59.82 bln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 45 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the online services peer group is "buy"

  • Wall Street's median 12-month price target for Uber Technologies, Inc. is $100.00, about 50.2% above its November 3 closing price of $66.60

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 19 three months ago


Reuters Recommended Reads

  • Nov 4 - Uber's profit forecast disappoints as driver shortages, Middle East conflict hurt

  • Nov 3 - Singapore's Grab lifts 2026 forecasts on strong ride-hailing, delivery demand

  • Nov 2 - Marriott lifts annual room revenue growth forecast on resilient travel demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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