Meanwhile, Andrew Ross Sorkin broke down Uber’s earnings on CNBC’s Squawk Box, focusing on the revenue surge and explaining why there was a loss and what it is attributable to. He also added:
Balanced growth
In a statement, Dara Khosrowshahi, Uber’s CEO, explained that he challenged the team to provide great profitability for this quarter. He then added:
Uber chart and analysis
In the last month, UBER has been trading in the $20.59 to $27.95 range, with the short-term trend now becoming positive, but the long-term trend is still negative as the stock is down 44% year-to-date (YTD). Uber competitor Lyft (NASDAQ: LYFT) also rose nearly 7% on the back of the firm’s solid results. Further, the talk of free cash flows could get investors interested in UBER again, possibly returning it to its old glory days when it went public for the first time in 2019. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
