Uber Technologies is slated to report results before the opening bell on May 2, and the ride-sharing app has a chance to start a strak of expectations beats.
The company missed on earnings each of the first three quarters last year before righting the ship in the fourth. The consensus estimate as things stand are revenue of $8.72 billion and a loss of $0.09 per share.
Analysts at Zacks think the company has a good chance to top that.
“We expect Uber’s delivery business to have performed impressively in first-quarter 2023. Online order volumes are expected to have surged,” analysts said. “Our estimate for revenues from the eelivery segment is currently pegged at [2.8 billion], implying an uptick of 11.5% from first-quarter 2022 actuals.”
The mobility business is also expected to improve, with Zacks noting more people traveling to work and elsewhere. The firm projects mobility revenue to come in at $3.08 billion, which would be a 22.4% gain.
All told, Zacks tagged Uber with an earnings surprise prediction number of +40.99%.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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