Uber Technologies Stock Rides Higher On Q2 Performance: The Details
Uber Technologies, Inc (NYSE:UBER) reported second-quarter FY23 revenue growth of 14% year-on-year to $9.23 billion, slightly missing the consensus of $9.32 billion.
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00:00 Let's go to Uber as they're reaching profitability.
00:03 What?
00:04 Let's talk a little bit about this.
00:06 Q2 EPS of two cents.
00:08 Two cents, baby.
00:10 Beats the estimate of a loss of one cent.
00:14 While sales slightly missed that $9.2 billion,
00:17 estimate was at $9.32 billion, Q2 gross booking
00:21 surged to $36.6 billion, up 16% year over year.
00:26 Uber technology is definitely the favorite here
00:29 for ride sharing.
00:31 Can it keep going?
00:32 They could not stop buying the stock ahead of the report
00:35 last night, Joel.
00:36 They were just crazy.
00:37 And they were buying and buying.
00:39 And it was trading like 51.
00:40 It was up a buck and a half last night ahead of the report.
00:43 And I was like, holy man, somebody's just convicted
00:46 that this thing is coming out and beating.
00:48 And then it's funny.
00:49 On the initial number, they're like, oh my gosh,
00:52 it's not that good.
00:52 And they tanked it.
00:53 I see that.
00:54 All the way down to 47 and a half.
00:56 And then they're like, wait a second, wait a second.
00:59 They made a profit for the first time gap profit ever.
01:01 And then they bought it all the way back up to 52 and a half.
01:04 So it's already had a 10% range, despite only the 1%.
01:07 It's had a 10% range here.
01:10 And basically that first minute after the earnings report,
01:13 those algos, they crazy, man.
01:16 Those algos be crazy.
01:18 I tell you right now, I was not in front of my computer
01:21 in front of this report.
01:22 I would have never have bought--
01:26 that dip, I would have even been looking at levels.
01:29 I wouldn't have been prepared for anything.
01:31 But what we talked about on the closing print was, man,
01:35 you got a pair of monthly highs in the 52 handle.
01:39 5,203, 5,236 after trading down to 4,750.
01:44 You're back at this area.
01:46 I mean, give me--
01:47 I mean, that was like a gift, especially after the daily run
01:51 that you had.
01:52 I mean, I don't know.
01:54 I mean, that's major resistance.
01:56 If you took something off at 52, you probably
01:59 weren't too happy when it went over 52.50.
02:02 That's all history now.
02:04 I mean, this better stay green today.
02:06 That's all I have to say.
02:07 You closed at 49.46.
02:09 Overall, they'd like to report.
02:11 We'll find support there.
02:13 And then I'll just do a reset.
02:15 I mean, if it gets--
02:16 I don't think you're going to get back up to 52 now.
02:19 I don't think so either.
02:19 Yeah, too many people are stopped.
02:21 I think 50 and a half, you got to be out there.
02:24 51, you got to be out there.
02:25 51 and a half, I mean, from a daily perspective,
02:28 I think you got to get out there on the offer side.
02:31 I think it goes red.
02:32 I don't know why.
02:33 Just the spidey feeling, the spidey senses.
02:36 I think it goes red.
02:37 So it's trading up a buck here still right now.
02:40 There's a lot of people who are uber bullish.
02:42 And I think that they got the results.
02:46 They were pretty good.
02:47 But when you start thinking of context here,
02:49 the stock was $35 three months ago.
02:52 It's 50.
02:52 It's run a long ways for two cents of earnings.