Uber Technologies, Inc. - UBER STOCK NEWS

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.

Uber Eats has launched nationwide acceptance of SNAP EBT payments, partnering with Albertsons Companies' grocery stores (including Safeway, Jewel-Osco, and Vons) and Walgreens locations. The initiative aims to expand access to nutritious food for millions of Americans. EBT cardholders will receive free delivery on their first three SNAP-eligible orders and a 3-month free Uber One membership. The service, powered by Forage's payment technology, allows eligible customers to order groceries through the Uber Eats app using their SNAP benefits. Uber plans to add more retailers to the program in the coming months.

Uber Technologies, Inc. (NYSE: UBER) has announced its upcoming third quarter 2024 financial results conference call, scheduled for Thursday, October 31st, at 5:00 a.m. Pacific Time (8:00 a.m. Eastern Time). Investors and interested parties can access the live webcast and earnings release materials on Uber's Investor Relations website at investor.uber.com. The conference call replay will be available for at least 90 days.

Uber emphasizes its commitment to transparency by using its Investor Relations website as a platform for disclosing material nonpublic information and complying with Regulation FD. The company advises investors to monitor this website alongside press releases, SEC filings, and public presentations for comprehensive information.

Founded in 2010, Uber has facilitated over 52 billion trips to date, focusing on its mission to create opportunity through movement. The company continues to innovate in urban transportation for people, food, and goods delivery.

Uber Technologies, Inc. (NYSE: UBER) and Avride have announced a multiyear strategic partnership to integrate Avride's delivery robots and autonomous vehicles into Uber and Uber Eats services. The collaboration will begin with sidewalk robots on Uber Eats in Austin in the coming weeks, expanding to Dallas and Jersey City later this year. The mobility partnership for riders in Dallas is expected to launch next year.

Avride's unique advantage lies in developing both autonomous cars and delivery robots with mutually enhancing technologies. The company's delivery robots are already operational in the U.S. and South Korea, while its autonomous cars are being tested on public roads. Avride plans to expand its robot fleet within Uber Eats to hundreds in 2025, followed by the launch of its robotaxi service.

Uber Technologies (NYSE: UBER) has announced a new partnership with Spirit Halloween, North America's largest Halloween retailer. This collaboration allows customers across the United States and Canada to shop for Halloween costumes and seasonal decor through Uber Eats, Postmates, and the Uber app. Spirit Halloween is opening 1,525 locations in 2024, offering a wide range of costumes, accessories, and exclusive décor items.

The Spirit Halloween catalog will be available on Uber apps at the same prices as in-store. Uber One members will enjoy $0 Delivery Fee and a 5% discount on Spirit Halloween orders with a $35 minimum purchase. Additionally, all consumers can benefit from up to 40% off their next Spirit Halloween order of $50 or more through Halloween, subject to terms and conditions.

WeRide, a global autonomous driving technology company, and Uber Technologies, Inc. (NYSE: UBER) have announced a strategic partnership to bring WeRide's autonomous vehicles onto the Uber platform, starting in the United Arab Emirates. The partnership is set to launch first in Abu Dhabi later this year, with a dedicated number of WeRide vehicles available to consumers using the Uber app.

WeRide currently operates the largest robotaxi fleet in the UAE, accessible through the TXAI app. In July 2023, WeRide was granted the UAE's first and only national license for self-driving vehicles, allowing it to test and operate autonomous vehicles on public roads across the entire country.

The partnership aims to combine WeRide's technology with Uber's platform to deliver affordable, sustainable, and safe mobility solutions globally. However, the partnership does not contemplate any launches in the United States or China.

Darden Restaurants (NYSE: DRI) and Uber Technologies (NYSE: UBER) have announced an exclusive multi-year delivery partnership, starting with Olive Garden in late 2024. The collaboration will enable on-demand delivery through Olive Garden's channels, powered by Uber Direct. A pilot program will begin in late 2024, with national expansion expected by May 2025.

Key points:

• Guests can order delivery via Olive Garden's website and app
• Service will be available at over 900 company-owned locations across the U.S.
• Olive Garden retains guest data and insights
• Custom integration aims to preserve team member and guest experience
• Partnership addresses growing demand for home delivery while maintaining Olive Garden's competitive advantages

Uber (NYSE: UBER) and Waymo have expanded their partnership to bring autonomous ride-hailing services to Austin and Atlanta starting in early 2025. Uber will manage and dispatch a fleet of Waymo's fully autonomous, all-electric Jaguar I-PACE vehicles, which will grow to hundreds over time. Riders requesting UberX, Uber Green, Uber Comfort, or Uber Comfort Electric may be matched with a Waymo for qualifying trips.

Uber will provide fleet management services, including vehicle cleaning, repair, and general depot operations. Waymo will continue to be responsible for the testing and operation of the Waymo Driver, including roadside assistance and certain rider support functions. This expansion builds on their successful partnership in Phoenix, where autonomous trips have already been provided to tens of thousands of riders.

Uber Technologies (NYSE: UBER) and Turo have announced a multi-year partnership to integrate Turo's peer-to-peer car sharing marketplace into the Uber Rent platform. Starting in early 2025, Uber customers in the US, UK, Canada, Australia, and France will be able to rent from Turo's extensive selection of over 1,600 vehicle makes and models directly through the Uber app.

This collaboration aims to boost opportunities for Turo hosts and provide Uber users with access to a diverse range of vehicles. The partnership is expected to tap into a $150 billion-plus total addressable market, promoting shared vehicle access and reducing private car ownership. Both companies view this as a strategic move towards shaping the future of transportation.