Uber Technologies, Inc. - UBER STOCK NEWS

Uber Technologies (NYSE: UBER) has announced its upcoming fourth quarter and full year 2024 financial results conference call, scheduled for Wednesday, February 5th at 5:00 a.m. Pacific Time (8:00 a.m. Eastern Time). The live webcast and earnings materials will be available on Uber's Investor Relations website, with the replay accessible for at least 90 days.

The company emphasizes its use of the Investor Relations website for disclosing material nonpublic information and maintaining compliance with Regulation FD. Since its 2010 inception focusing on ride-hailing services, Uber has facilitated more than 55 billion trips, expanding its platform to revolutionize urban mobility for people, food, and goods delivery.

Uber Technologies (NYSE: UBER) and NVIDIA have announced a collaboration to advance autonomous driving technology through AI solutions. The partnership will combine Uber's vast trip data with NVIDIA's new Cosmos platform and DGX Cloud to enhance AI model development for autonomous vehicles.

The Cosmos platform features generative world foundation models, tokenizers, and accelerated data processing pipelines specifically designed for physical AI systems. NVIDIA DGX Cloud provides a high-performance, managed AI platform with term-length flexibility and machine learning pipeline portability across multi-cloud environments.

This collaboration aims to democratize access to autonomous vehicle development tools and accelerate the timeline for implementing safe, scalable autonomous driving solutions. The companies plan to share more details about their joint initiative later this year.

Uber Technologies (NYSE: UBER) has announced a $1.5 billion accelerated share repurchase (ASR) agreement with Bank of America, as part of its previously announced $7.0 billion share repurchase authorization. The company will initially receive 18,578,727 shares, representing approximately 80% of the expected total repurchase under this ASR agreement.

The final number of shares to be repurchased will be determined by the volume-weighted average price of Uber stock during the agreement term, less a discount. The ASR program is expected to complete in Q1 2025. According to CFO Prashanth Mahendra-Rajah, Uber expects to continue scaling free cash flows significantly in 2025, enabling capital return to shareholders while maintaining growth investments. The company views its stock as undervalued relative to business strength and plans to accelerate buybacks under the existing authorization.

TA Connections, a Corpay (NYSE: CPAY) company, has announced a strategic collaboration with Uber for Business (NYSE: UBER). This collaboration introduces a new integration within TA Disruption Hub, a flight disruption management solution. The integration allows airlines to assist disrupted passengers by scheduling Uber rides, in addition to flight rebooking, meal vouchers, and accommodations. The aim is to improve customer experience during flight disruptions by providing a seamless rider experience, enabling passengers to view trip details and driver location.

This integration is designed to reduce the workload on airline customer service teams and provide greater visibility and cost control for airlines. Mike Appleton, President of TA Connections, emphasized the potential for improved passenger experience, more efficient disruption management, and reduced customer service costs. Josh Butler, Global GM of Uber for Business, highlighted the aim to ease stress for passengers and customer service teams.

TA Connections plans future integrations and services to continue improving airline operations and passenger experience.

Uber and WeRide have launched their autonomous mobility service in Abu Dhabi, marking the first time autonomous vehicles are available on the Uber platform outside the United States. The service represents the largest commercial robotaxi operation outside the U.S. and China.

The service will operate in key areas including Saadiyat Island, Yas Island, and routes to/from Zayed International Airport. Initially, safety operators will be present in each vehicle, with plans for fully driverless service in 2025. Tawasul Transport will serve as the fleet operator, with support from Abu Dhabi's Integrated Transport Centre.

Uber riders requesting UberX or Uber Comfort may be matched with WeRide autonomous vehicles for qualifying trips, with an opt-in option available through the app's Ride Preferences section.

Toast (NYSE: TOST) and Uber (NYSE: UBER) have expanded their partnership to help restaurants reduce costs and reach more diners with commission-free delivery. This new integration between Toast Delivery Services and Uber Direct will enable restaurants across the U.S. to save on delivery fees, expand their delivery radius, and use Uber's extensive delivery network for local deliveries of orders made by phone and through Toast's digital ordering channels, including Online Ordering, Branded Mobile App, and Local by Toast (formerly Toast TakeOut) app.

Since 2021, Toast and Uber have partnered to deliver orders made through the Uber Eats app. With this expanded partnership, restaurants can now offer local delivery for sales made from their Toast digital ordering channels and by phone, while accessing commission-free delivery for a low flat fee per order. Uber Direct is used by various businesses including restaurants, grocers, and retailers. The expanded integration aims to provide restaurants with more choice and help them maximize their margins.

Uber Technologies (NYSE: UBER) announced that CFO Prashanth Mahendra-Rajah will participate in a fireside chat at the Barclays 22nd Annual Global Technology Conference on Wednesday, December 11. The session is scheduled for 1:20pm PT (4:20pm ET) and will be accessible via audio webcast on Uber's investor relations website.

Since its founding in 2010 with the goal of providing ride access at the touch of a button, Uber has facilitated more than 55 billion trips. The company continues to focus on its mission of creating opportunity through movement, developing products that transform how people, food, and things move through cities.

Uber Eats announces a new partnership with Stew Leonard's, making the farm fresh food store's products available for delivery across New York, New Jersey, and Connecticut locations. Customers can order through the Uber Eats and Uber apps, accessing exclusive items like Christmas Cookie Milk and chef-made guacamole. Uber One members receive $0 delivery fees and 5% discount on orders over $35, while all customers can enjoy up to 50% off orders of $50+ through November 25th. The partnership offers various products including heat-and-serve items, gameday favorites, and fresh bakery treats from Bethy's Bakery.

Uber Technologies reported strong Q3 2024 results with record profitability. Gross Bookings grew 16% year-over-year to $41.0 billion, while Revenue increased 20% to $11.2 billion. The company achieved a milestone with over $1 billion in GAAP operating income for the first time. Net income was $2.6 billion, including a $1.7 billion benefit from equity investment revaluation. Adjusted EBITDA rose 55% to $1.7 billion, with margin improving to 4.1%. The platform now has over 25 million Uber One members and processed 2.9 billion trips during the quarter. For Q4 2024, Uber expects Gross Bookings of $42.75-44.25 billion and Adjusted EBITDA of $1.78-1.88 billion.