Uber Technologies, Inc. (NYSE: UBER) released its FY22 Q1 earnings results on Wednesday after the market closed. Although the company performed better than estimated, the stock dropped more than 4% as it reported a $5.9 billion loss to the revaluation of equity investments.
Reported vs. Estimated
EPS: $0.18 vs loss of $0.28 expected
Revenue: $6.854 Billion vs $6.17 Billion expected
Uber reported earnings of 44 cents per share in the fourth quarter of 2021, compared to the Zacks Consensus Estimate of a loss of 33 cents. Total revenue of $5,778 million was higher than the Zacks Consensus Estimate of $5,391.2 million. The top line increased 82.6% year on year (up 19.3 percent sequentially), owing primarily to a rebound in mobility operations and profits in the Delivery segment.
Over the last year, Uber Technologies has generated $0.32 earnings per share ($0.32 diluted earnings per share).
Uber Technologies’ earnings are expected to rise from $0.77 to $0.01 per share in the coming year.
Uber Technologies had agreed to list all taxis in New York City on its app. The agreement was announced by Creative Mobile Technologies and its Arro taxi app, and it is for the city’s yellow cabs and Curbs, a North American ride-hailing app for licensed taxis and for-hire rides.
Uber Technologies Inc. operates a platform that allows users to order transportation and food. Core Platform and Other Bets are the Company’s operating segments. Ridesharing and Uber Eats are part of the Core Platform segment, and Uber Freight and New Mobility platforms are included in the Other Bets segment. Uber Technologies Inc. is headquartered in San Francisco, California.