Uber Technologies Inc (NYSE:UBER) is expected to follow up its first-ever quarterly operating profit achieved in the second quarter of 2023 with another strong performance in the third quarter when it reports its results before the opening bell in New York on Tuesday, November 7.
The ride-share operator’s 3Q earnings are expected to swing into positive territory, with analysts projecting earnings per share (EPS) of $0.13 compared to a loss per share of $0.61 in the year-ago quarter.
Revenue is expected to increase by 13.5% year-over-year from $8.34 billion to $9.47 billion.
Uber itself has forecast gross booking of $34 to $35 billion, up from $29.1 billion for the same three-month period last year.
It expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the range of $975 to $1.025 billion, compared to $516 million in the year-ago quarter.
Uber’s 3Q earnings report also marks the last under current chief financial officer Nelson Chai, who the company announced in July would be leaving the role he has held since 2018.
Prashanth Mahendra-Rajah, the CFO of semiconductor company Analog Devices, will take over starting November 13.
Uber shares traded hands at about US$41 on Friday afternoon. The stock has gained 55.3% in the year to date.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow on her X, formerly known as Twitter, @emilyjjarvie