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PostPosted: Thu Nov 04, 2021 10:53 pm 
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Uber delivers first adjusted profit but Didi stake hits earnings

https://www.ft.com/content/4af56131-018 ... bb37232e01

Uber delivered investors its first profitable quarter on an adjusted basis, thanks to a rapidly recovering rideshare business and the popularity of food delivery.

Uber’s preferred “adjusted ebitda” metric of the company’s underlying health excludes multiple costs including interest, taxes, depreciation and amortisation, as well as stock-based compensation.

On that basis, it eked out a $8m profit in this year’s third quarter, up $625m on the same period last year.

However, volatile activity in Uber’s investment portfolio caused it to swing to a generally accepted accounting principles net loss of $2.4bn, thanks to a $3.2bn negative revaluation of its stake in China’s Didi Chuxing.

Wall Street had been told to expect the ebitda milestone, and on Thursday Uber reiterated its confidence in sustaining that level, predicting adjusted ebitda profits of $25m to $75m in the final quarter of the year.

That outlook fell below the $110m target analysts had expected, according to S&P Capital IQ, and Uber shares fell marginally in after-hours trading.

“While we recognise it’s just a step, reaching total-company adjusted ebitda profitability is an important milestone for Uber,” added Nelson Chai, chief financial officer.

Using the same metric, Uber said its restaurant delivery business was for the first time turning a profit, while its border delivery segment, which includes groceries, was nearing break-even by the same measure.

Uber managed to surpass analysts’ expectations in all three of its business units — rideshare, delivery and freight — to post overall revenue of $4.85bn for the quarter.

That was up 72 per cent on the same period last year, and better than the $4.41bn analysts had expected, according to S&P Capital IQ.

Gross bookings — the total value of all transactions, including delivery — were at an all-time high, the company said, at $23.1bn. The trend suggested the opening up of societies was not leading to a drop in delivery demand.

Dara Khosrowshahi, chief executive, said the company had seen driver supply “steadily returning” thanks to “decisive investments” in getting workers back on the platform during a period of nationwide labour shortages.

The company said in the US demand recovery was, for the first time this year, now in-step with supply recovery — with 65 per cent more drivers working for Uber than in January.

As a result, surge pricing had approached “2019 normalcy”.

Uber also reported a significant recovery in trips to and from airports, growing 20 per cent from the beginning of September. Business trips on the platform were up 60 per cent.

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PostPosted: Thu Nov 04, 2021 10:55 pm 
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Quote:
Uber’s preferred “adjusted ebitda” metric of the company’s underlying health excludes multiple costs including interest, taxes, depreciation and amortisation, as well as stock-based compensation.

On that basis, it eked out a $8m profit in this year’s third quarter, up $625m on the same period last year.

However, volatile activity in Uber’s investment portfolio caused it to swing to a generally accepted accounting principles net loss of $2.4bn, thanks to a $3.2bn negative revaluation of its stake in China’s Didi Chuxing.

So the way Uber declare their numbers they made $8m profit in Q3.

But the way the rest of the Universe declare their numbers Uber lost $2.4bn in Q3.

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PostPosted: Wed Nov 10, 2021 12:20 pm 
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Sussex wrote:
Quote:
Uber’s preferred “adjusted ebitda” metric of the company’s underlying health excludes multiple costs including interest, taxes, depreciation and amortisation, as well as stock-based compensation.

On that basis, it eked out a $8m profit in this year’s third quarter, up $625m on the same period last year.

However, volatile activity in Uber’s investment portfolio caused it to swing to a generally accepted accounting principles net loss of $2.4bn, thanks to a $3.2bn negative revaluation of its stake in China’s Didi Chuxing.

So the way Uber declare their numbers they made $8m profit in Q3.

But the way the rest of the Universe declare their numbers Uber lost $2.4bn in Q3.


Accountants earning brass

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PostPosted: Tue Nov 30, 2021 9:01 pm 
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Down loads to $37.76.

And to think the idiots in the suits said buy when shares were $50 plus.

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PostPosted: Wed Dec 01, 2021 11:47 am 
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Sussex wrote:
Down loads to $37.76.

And to think the idiots in the suits said buy when shares were $50 plus.


of course because they had already bought and wanted other mugs to drive the price up to get a nice profit for them

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PostPosted: Wed Dec 01, 2021 7:57 pm 
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Basically their shares have gone down about $15,000,000,000 in the last 10 days.

Breaks my heart. :---)

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PostPosted: Mon Dec 06, 2021 9:30 am 
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Sussex wrote:
Basically their shares have gone down about $15,000,000,000 in the last 10 days.

Breaks my heart. :---)


shares and real world are 2 different thing

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PostPosted: Mon Dec 13, 2021 8:17 pm 
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Down to $35.51 a share.

Company value down about $20,000,000,000 since last month, or about when a dealer at UBS said they were a good buy.

Suggest his boss says good buy to his job.

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PostPosted: Tue Jan 25, 2022 7:31 pm 
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Dropped about 20% over the last month.

Currently $34.72.

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PostPosted: Thu Jan 27, 2022 5:29 pm 
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Millions are made on trades - mainly by traders

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PostPosted: Thu Feb 10, 2022 8:10 pm 
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Uber announced their latest numbers yesterday.

According to their spin, once again lapped up by the financial press, they actually made money.

However that's all down to creative accounting, and they actually lost money again.

Hence their share price falling today to $38.77.

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PostPosted: Fri Feb 11, 2022 7:50 pm 
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For those Uber anoraks out there, or maybe just for me, Huber Horan has published his latest article on why Uber will never make a bean.

https://www.nakedcapitalism.com/2022/02 ... llion.html

Today their share price has dropped about 10%.

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PostPosted: Fri Mar 04, 2022 8:59 pm 
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Down to $30.04 today, about a third down since it went public.

Or about $29,000,000,000 down in cash terms.

Added to the $31,000,000,000 they have lost since they came into being, is a lot of yuppie cash been pi**ed up the wall.

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PostPosted: Tue Apr 19, 2022 6:21 pm 
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Currently $33.75, and has been fluctuating between $30 and $35 a share.

So nearly three years down the line, Uber has still never made a real profit, never paid a dividend and its share price is still down a third since IPO.

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PostPosted: Wed May 04, 2022 6:23 pm 
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Currently down to $27.04 a share.

Although the financial press thinks Uber is on fire, despite posting a $5.9 billion quarterly loss today, it appears the markets don't share that view.

So since Uber came to be they have now lost about $35 billion, and since they went public their share price has gone down about $35 billion.

Perfect piece of symmetry. #-o

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