Uber Technologies Stock News

Strong competitive positions make Shopify and Uber no-brainer buys in November.

Uber is looking beyond major cities for growth amid a jump in its membership program. The ride hailing/delivery company released quarterly earnings Thursday (Oct. 31) showing that its Uber One program now has more than 25 million members, a 70% increase year over year.

Bookings growth, a key measure of ridership for online taxi operators, slowed to a more than one-year low in the third quarter and also fell short of analysts' forecasts.

Uber stock is sinking Thursday after the ride-hailing firm came up short of a key Q3 metric, but analysts have yet to adjust their ratings. Here's what you need to know.

Uber Technologies Inc (NYSE:UBER, ETR:UT8) slumped more than 11% on Thursday after expectation-beating earnings and revenue failed to overshadow disappointing gross booking figures. Revenue climbed by 20% to $11.2 billion in the third quarter, aiding a jump in diluted earnings per share from $0.10 to $1.20, Uber reported on Thursday.

Uber Technologies, Inc. (NYSE:UBER ) Q3 2024 Earnings Conference Call October 31, 2024 8:00 AM ET Company Participants Dara Khosrowshahi - CEO Prashanth Mahendra-Rajah - CFO Deepa Subramanian - VP, IR Conference Call Participants Eric Sheridan - Goldman Sachs Brian Nowak - Morgan Stanley Doug Anmuth - JPMorgan Justin Post - Bank of America Merrill Lynch Mark Mahaney - Evercore Ron Josey - Citi ...

Uber's stock fell Thursday after the ride-share company reported mixed third-quarter results. Gross bookings, or the dollar value of rides and deliveries, came in slightly below expectations.

Uber stock is slipping with the focus on whether it is running out of new customers and if existing ones will become more cautious on spending.