Solid Earnings and Growth Targets Propel Uber Technologies to 21.8% Surge in February
Friday, 8 March 2024, 13:49
Uber Technologies Surges 21.8% in February: Here's Why Investors Are Bullish
Solid earnings and profit outlook lifts shares
- In the fourth quarter, Uber's revenue grew 15% to $9.9 billion, with non-GAAP (adjusted) earnings per share (EPS) of $0.66 up 175% year over year.
- During the investor day, Uber outlined mid to high-teens annualized bookings growth and high-30% to 40% EBITDA growth over the next three years.
- Uber announced a $7 billion buyback plan, signaling the company's commitment to profit growth and shareholder returns.
Investors are optimistic about Uber's growth potential despite initial valuation concerns and potential challenges from autonomous vehicles.
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