Uber Q2 Earnings Preview: Driver Shortage Threatens Business Revival

investing.com2021-08-03

Reports Q2 results on Wednesday, Aug. 4, after the market close Revenue Expectation: $3.7 billion EPS Expectation: loss of $0.54 Uber is finding itself in a tough spot these days. While its ride ...

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Comments

OMZ
2021-08-03
OMZ
Yes
TeslaLegend
2021-08-03
TeslaLegend
Please like and comment. Thanks!
- SebbyBoy:
  Very well
Kaka1992
2021-08-03
Kaka1992
Uber chiong
- Msyenny:
  Good news
- sQzC:
  Yeas!
- TeslaLegend:
  Huat ah
cavanng
2021-08-03
cavanng
Always not doing well
- 超群yibo:
  Only Uber Eat make money.
dandan_4896
2021-08-03
dandan_4896
555
Excelsheet
2021-08-03
Excelsheet
Comment like
- Ellen77:
  Done.. ?
- Excelsheet:
  Nice

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While its ride bookings are coming back as the economy reopens, the world’s largest ride-hailing service is struggling to win back drivers in the post-pandemic environment.\nAnalysts, on average, expect the San Francisco-based Uber to report $3.74 billion in sales, up more than 20% from the previous quarter and 39% more than the same period a year ago.\nUber Weekly Chart.\nThis strong rebound comes after bookings collapsed last year when the rapid spread of the COVID virus forced governments to institute and enforce lockdowns, along with mass closures of businesses and offices.\nBut as UBER's rides segment comes back, its business equation isn't the same. The transportation services tech platform is spending more on recruiting drivers now and that means wider losses and a longer time until the company sees a profit.\nBonuses and other incentives to get drivers back on the road will reduce Uber's rate taken from fares by about 20% this quarter, the company told investors in May. 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Both will have to deal with shifting dynamics of gig labor that they acknowledge will require long-term solutions.\n“This is a moment of deep introspection and reflection for a company like ours to pause and say, ‘How do we make the proposition for drivers more attractive longer term?'” Carrol Chang, Uber’s chief of driver operations for the U.S. and Canada, said in the report. “It is absolutely a reckoning.”\nAnother important aspect of Uber’s business transformation during the pandemic was its delivery business, which the company quickly expanded from meals to booze, groceries, packages and prescriptions. Tomorrow’s results will provide some insight into whether consumers will continue to stick with UberEats after the pandemic.\nDelivery revenue surged during the pandemic, providing crucial support when Uber’s ride-hailing services struggled. These sales rose another 28% in Q1 from the prior quarter to $1.7 billion. That’s more than triple what it was a year ago.\nBottom Line\nThere is significant uncertainty surrounding the ride-hailing business model in the post-pandemic environment. Uber has to show that it’s able to overcome labor shortages without significantly increasing its costs, while proving it can sustain growth in its delivery business.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":804476120,"gmtCreate":1627976989660,"gmtModify":1703498951856,"author":{"id":"3582775098103345","authorId":"3582775098103345","name":"OMZ","avatar":"https://static.tigerbbs.com/ca349f863c38e1c6aef2ca4511498926","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3582775098103345","authorIdStr":"3582775098103345"},"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/804476120","repostId":1141606297,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":804479373,"gmtCreate":1627976521992,"gmtModify":1703498946019,"author":{"id":"3572489627147183","authorId":"3572489627147183","name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"hat":"https://static.tigerbbs.com/f84859c65fc2d7681e28f6b8e9b0535a","crmLevel":4,"crmLevelSwitch":1,"idStr":"3572489627147183","authorIdStr":"3572489627147183"},"htmlText":"Please like and comment. 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