Uber Q1 Earnings Preview

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Uber, a ride-sharing and delivery company, is set to reveal its Q1 earnings on May 2nd. Analysts anticipate that the company’s mobility sector will contribute to minimizing its losses during the quarter.

Uber is expected to benefit from the resurgence of its mobility business due to the reopening of the economy. However, it is predicted that the rate of expansion will gradually slow down.

It is expected that Uber’s losses in Q1 2023 will significantly decrease compared to the same quarter in the previous year. This is due to increased revenue and expansion of margins.

The Q1 gross bookings are expected to grow on a constant currency basis, with a projected range of 20% to 24%. Moreover, the estimated adjusted EBITDA falls between $660 million and $700 million.

Jefferies analyst John Colantuoni is confident in Uber’s Q1 results, with a Buy rating and a $49 price target. He predicts growth in the mobility sector and more rational international delivery markets, as well as higher margins from greater advertising penetration.

Colantuoni is confident that the growth in mobility will continue to rise due to favorable comparisons, while the growth in restaurant delivery is expected to decline following a previous surge in demand. Colantuoni believes that the Q1 EBITDA estimate is too conservative and is highly optimistic about the company’s ability to reach its goal of $5 billion adjusted EBITDA by 2024.

Analysts predict that Uber’s revenue for Q1 2023 will be approximately $8.7 billion, showcasing a growth rate of around 27% in comparison to the previous year. However, it is important to note that this growth rate is slower than that observed in Q4 2022. It is also anticipated that there will be a substantial reduction in the loss per share, with an estimated figure of $0.09 for Q1 2023, as opposed to $3.04 in the previous year’s quarter.

Uber Long (Buy)
Enter at: 33.25
T.P_1: 34.63
T.P_2: 36.27
T.P_3: 37.75
T.P_4: 39.76
S.L: 28.33


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