Is UBER Turning The Corner?
I have never owned Uber (UBER) and thought I never would but after reviewing their 2Q22 earnings I asked myself for the first time: “Should I buy it?” The earnings were that good. Food Delivery continued to be solid with $13.9 billion in bookings – though it is not that profitable. Ride Sharing was the standout as bookings jumped 25% from 1Q22 to $13.4 billion. Adjusted EBITDA came in surprisingly strong at $364 million and they guided 3Q22 Adjusted EBITDA to $440-$470 million. Shares are currently +11% in the premarket. Which all raises the question: Is UBER turning the corner?