Uber $UBER +3.7% following its earnings release.
$Uber(UBER)$ hit 52-week high,
Below are the main highlights & my valuation views:
Positives:
• Surpassed EPS expectations.
• Strong Year-over-Year growth in Gross Booking Value, with Mobility surging by 31% and Delivery by 18%, marking an acceleration for both sectors.
• Robust U.S. consumer spending, favoring service sectors like food delivery and dining.
• Company's focus on local services provides defensive strength in economic fluctuations.
• Growth in active drivers surpassing trip growth due to good earning opportunities.
• Sequential margin improvement.
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Negatives:
• Missed revenue expectations.
• Take Rates have peaked and declined.
• Management's strategy to maintain low Take Rates to promote platform growth, which may impact future revenue growth negatively.
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Valuation Perspective: Bullish
• Based on DCF analysis the current share price reflects only a slight and clear improvement.
• Potential long-term benefits are expected from the adoption of a full self-driving platform, leveraging its existing user base.
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Source：https://twitter.com/invest_memo16/status/1722204624839733459
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