Uber Q4 Earnings Preview: Gross Bookings, Margins On Watch

Uber Technologies Inc. (NYSE:UBER) is set to announce its fourth-quarter financial results on Wednesday before the opening bell. Here's a look at what to watch when the company reports. 

What To Watch: Investors will be interested in several of Uber's key performance indicators including gross bookings and monthly active platform consumers, MAPCs.  

Uber's gross bookings grew by 16% to $40.97 billion in the third quarter, though this growth rate was slower than the previous year. The company reported 161 million users in the third quarter, up 13.4% year-over-year. 

Uber delivered record quarterly margins for both Mobility and Delivery in the third quarter and the Street will be looking to see if the ride-hailing giant can deliver again.

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Expert Ideas: Several analysts updated coverage on Uber stock heading into the fourth-quarter print: 

• UBS analyst Lloyd Walmsley maintained with a Buy but lowered the price target from $114 to $107.
• Piper Sandler analyst Thomas Champion maintained an Overweight rating and lowered the price target from $98 to $82.
• Cantor Fitzgerald maintained its Overweight rating and raised the price target from $75 to $80.
• Needham analyst Bernie McTernan reiterated with a Buy and maintained a $90 price target.

According to estimates from Benzinga Pro, analysts expect Uber to report quarterly earnings of 49 cents per share on revenue of $11.77 billion. The company missed expectations on both the top and bottom lines in the third quarter.  

Uber shares are up more than 15% year-to-date after trading mostly flat through 2024. 

UBER Price Action: According to data from Benzinga Pro, Uber shares rose 3.66% in Tuesday's session to close at $69.75. 

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