Uber Technologies, Inc. - UBER STOCK NEWS

Uber Technologies, Inc. reported substantial growth in its Q2 2022 earnings, with Gross Bookings reaching an all-time high of $29.1 billion, a 33% year-over-year increase. Revenue rose 105% to $8.1 billion, exceeding the Gross Bookings growth due to a business model change in the UK and the Transplace acquisition. Despite a net loss of $2.6 billion, primarily from equity investments, Adjusted EBITDA improved to $364 million. The platform's monthly active consumers hit 122 million, reflecting a 21% increase YoY. Outlook for Q3 anticipates Gross Bookings between $29 billion and $30 billion.

Uber Technologies, Inc. (NYSE: UBER) will host its quarterly conference call to discuss Q2 2022 financial results on August 2, 2022, at 5:00 a.m. Pacific Time (8:00 a.m. Eastern Time). Investors can access the live webcast and earnings release materials on Uber’s Investor Relations website. A replay will be available for at least 90 days. Uber emphasizes that its Investor Relations site is a primary means for disclosing material nonpublic information, urging investors to monitor it for updates.

DoubleVerify (NYSE: DV) announced the appointment of Sundeep Jain to its Board of Directors, effective July 1, 2022. Jain, currently Chief Product Officer at Uber (NYSE: UBER), brings over 20 years of experience from prominent companies including Google (NASDAQ: GOOG) and Zynga. He will serve on the Board's Compensation Committee. Jain's expertise in product innovation and technology is expected to enhance DV's growth and innovation trajectory in the digital media measurement sector.

Uber Freight has formed a long-term strategic partnership with Waymo to integrate autonomous trucks within its network. This alliance aims for deep product integration, enabling carriers with Waymo Driver-equipped trucks to access Uber Freight’s marketplace. A significant aspect of the deal is the reservation of billions of miles of capacity for Uber Freight, facilitating a hybrid model where human and autonomous trucks work together. With over $17 billion of freight under management, the collaboration seeks to enhance operational efficiency in logistics while addressing driver shortages and rising demands.

Uber Technologies (NYSE: UBER) and Grocery Outlet (NASDAQ GS: GO) have launched a pilot program for on-demand and scheduled grocery delivery across 72 stores in California, Oregon, and Washington. The initiative allows customers to order their favorite Grocery Outlet products through Uber and Uber Eats. To celebrate the launch, first-time Grocery Outlet customers receive $0 Delivery Fee for orders over $30, while Uber One members enjoy free delivery on orders over $15. This partnership aims to expand Grocery Outlet's reach and enhance Uber's grocery delivery service.

On May 16, 2022, Motional and Uber Technologies launched autonomous food deliveries on the Uber Eats network in Santa Monica, California. This partnership marks Uber Eats' first collaboration with an autonomous vehicle company. The service utilizes Motional's all-electric IONIQ 5 vehicles, designed for end-to-end delivery. This pilot aims to gather insights for future initiatives and enhance customer experience while paving the way for scalable automated delivery models across Los Angeles and beyond.

Uber Technologies, Inc. (NYSE: UBER) announced that CEO Dara Khosrowshahi will keynote at the Bank of America Global Technology Conference on Thursday, June 9, 2022, at 8:00 AM PT (11:00 AM ET). A recorded audio webcast will be accessible on Uber's investor relations page at http://investor.uber.com.

Founded in 2010, Uber aims to create opportunities through movement, having completed over 30 billion trips. The company continues to innovate in how people, food, and goods are transported in urban areas.

Uber Technologies reported Q1 2022 results with Gross Bookings of $26.4 billion, a 35% increase YoY, exceeding guidance. However, it posted a net loss of $5.9 billion, largely due to $5.6 billion in unrealized equity investment losses. Adjusted EBITDA reached $168 million, with Mobility and Delivery segments showing strong performance. For Q2 2022, Uber anticipates Gross Bookings between $28.5 billion and $29.5 billion.

Uber Technologies, Inc. (NYSE: UBER) will release its first quarter 2022 financial results on May 4, 2022, at 4:00 a.m. Pacific Time. This announcement comes with a rescheduled quarterly conference call at 5:00 a.m. Pacific Time, aimed at providing timely updates on performance and guidance before the market opens. Investors can access the live webcast and earnings materials on Uber’s Investor Relations website. The company emphasizes that it will continue using this platform for disclosing important information.