Uber Technologies Inc. (NYSE: UBER) announced the latest financial results on Wednesday.

The US ride-hailing company beat both revenue and earnings per share (EPS) estimates for the last 3 months of 2023.

Revenue reached $9.936 billion for the quarter (up from $8.607 billion in Q4 2022) vs. $9.756 billion expected.

EPS was reported at $0.66 per share (up by 127.58% year-over-year) vs. $0.163 per share estimate.

Full year revenue grew by 24% from 2022 to $137.865 billion.

Company overview

• Founded: March 2009
• Headquarters: San Francisco, California, United States
• Number of employees: 32,800 (2022)
• Industry: Transportation
• Key people: Ronald Sugar (Chairman), Dara Khosrowshahi (CEO)

CEO commentary

“2023 was an inflection point for Uber, proving that we can continue to generate strong, profitable growth at scale. Our audiences are larger and more engaged than ever, with our platform powering an average of nearly 26 million daily trips last year,” Dara Khosrowshahi, CEO of Uber said in a press release.

Stock reaction

Shares initially dropped by around 3% at the open on Wednesday. Shares flat towards the end of the trading day, up by 0.20% at $70.61 a share.

Stock performance

• 5 day: +8.14%
• 1 month: +13.10%
• 3 months: +42.60%
• Year-to-date: +14.64%
• 1 year: +91.65%

Uber stock price targets

• Needham & Company LLC: $71
• KeyCorp: $79
• JMP Securities: $75
• Bank of America: $73
• Truist Financial: $68
• Gordon Haskett: $66
• Mizuho: $77
• The Goldman Sachs Group: $78
• BMO Capital Markets: $69
• Nomura: $62
• Oppenheimer: $75
• Tigress Financial: $72
• Wells Fargo & Company: $64
• JP Morgan Chase & Co.: $62
• Morgan Stanley: $62

Uber Technologies Inc. is the 89th largest company in the world with a market cap of $145.20 billion, according to CompaniesMarketCap.

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Sources: Uber Technologies Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

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