Uber Technologies (UBER) stock was lower early Wednesday. The ride-hailing and food delivery company’s fourth quarter earnings and sales beat expectations but its bookings forecast was slightly below views, which Uber blamed on currency headwinds.
Uber said that it earned $3.21 per share on sales of $11.96 billion for the December-ended quarter. Analysts polled by FactSet projected the San Francisco-based company would post earnings of 50 cents per share on sales of $11.76 billion.
Uber’s net income of $6.9 billion included a $6.4 billion benefit from a tax valuation release and a $556 million benefit from net unrealized gains related to the revaluation of its equity investments, the company said.
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For the same period a year earlier, Uber posted adjusted earnings of 66 cents per share on sales of $9.94 billion.
Uber’s total Q4 bookings grew 21% to $44.2 billion, ahead of expectations of $43.48 billion, according to FactSet.
However, Uber’s outlook for the current quarter missed expectations. Uber guided for gross bookings of $42.75 billion at the midpoint of its range. That was below analyst expectations of $43.49 billion. Uber cited a “5.5 percentage point currency headwind to total reported YoY (year-over-year) growth.”
On the stock market today, Uber stock is down 6.1% at 65.50 in recent premarket action. Uber stock gained 3.6% Tuesday to close above its 200-day moving average for the first time since early December.
More earnings coverage to come. You can read a preview of Uber’s earnings published yesterday below.
Investors pumped the breaks on Uber’s rally last year amid concerns that its market share could be eaten up by autonomous-vehicle providers. But shares of Uber Technologies (UBER) have started 2025 strong, with a big test set for Wednesday when the company publishes its fourth-quarter earnings report.
Uber is up nearly 15% so far in 2025, after underperforming the S&P 500 with a 2% loss in 2024. With a nearly 4% gain on the stock market Tuesday, Uber stock overtook its long-term 200-day moving average for the first time since December.
A partnership with Nvidia (NVDA) focused on autonomous driving, along with generally bullish calls from stock analysts, have helped Uber climb early in the year. Here’s what to watch from the ride-hailing and food-delivery firm’s Q4 report early Wednesday. This article will be updated with results early tomorrow.
Uber Q4: Numbers To Watch
Analysts polled by FactSet expect Uber’s earnings to decrease 25% year over year to 50 cents per share. Sales, meanwhile, are seen rising 18% to $11.76 billion.
On average, analysts expect Uber’s overall bookings value to grow 15.7% year over year to $43.48 billion, according to FactSet. Within that category, analysts expect rides-related bookings to grow 16.5% to $22.46 billion, according to FactSet. Food-delivery-related bookings are expected to grow 15.5% to $19.65 billion.
EBITDA (earnings before interest, taxes, depreciation and amortization) is projected to reach $1.84 billion, per FactSet.
Uber typically provides guidance for gross bookings and EBITDA in the current quarter. Analysts see Uber guiding for roughly $1.85 billion EBITDA and $43.49 billion in gross bookings for the March quarter.
Robotaxi Worries For Uber Stock
But beyond its fundamentals, Uber stock has been frequently moved by updates related to autonomous driving. The fear is that Uber’s dominance of the market for ride-hailing will be challenged by companies developing self-driving cars, such as Waymo. Uber, meanwhile, has pitched itself as a crucial partner to AV developers, connecting their cars with riders.
In an earnings preview note last week, UBS analyst Stephen Ju reiterated a buy rating for Uber stock but lowered his price target to 107, from 114.
“Robotaxi concerns will remain at the forefront of investor concerns through 2025 — as we have noted earlier, this remains a longer term risk that cannot be disproven, as opposed to a near term threat,” Ju wrote.
Uber stock sold off in December on news that Waymo was expanding into Miami. Unlike Waymo’s other planned expansions in Austin and Atlanta, the Google-backed self-driving-car company is not partnering with Uber for its Miami plan. And updates on Tesla‘s (TSLA) progress toward a robotaxi service over the six months have often pushed Uber stock lower.
Uber stock also fell a tick last week on a report that Waymo plans to expand to 10 more cities in 2025.
BofA Securities analyst Justin Post said in a recent note that the “AV overhang” is overblown. He rates Uber a buy with a price objective of 93. This year could provide investors with “better visibility into the lengthy timeline for the ramp of new AV competition, with technology, regulatory and insurance issues to overcome.
He added that his “long-term fundamental view is that the U.S. AV industry will not be dominated by just two companies.”
Uber Stock Technical Ratings
Meanwhile, Uber stock’s Relative Strength Rating is just 32 out of a best-possible 99, according to IBD Stock Checkup. That’s an improvement, however, from lows near 20 to start the year.
Uber has an IBD Composite Rating of 84 out of a best-possible 99. IBD’s Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.
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