Uber (UBER) Posts Strong Q3 Results but Offers Cautious Outlook for Q4

Uber Technologies Inc. (NYSE:UBER) is one of the must-buy US stocks to buy now. On November 4, Uber Technologies Inc. (NYSE:UBER) delivered solid third-quarter numbers, with earnings per share reaching $1.20, well above analyst expectations of $0.69.

Revenue climbed 19% to $13.47 billion, and gross bookings hit $49.7 billion, marking a 21% increase from the previous year. The company also saw a 33% rise in adjusted EBITDA, totaling $2.3 billion, while trip volume surged to 3.5 billion, driven by growth in active users and engagement per rider.

Despite the strong performance, Uber’s guidance for the fourth quarter was seen as conservative. The company expects gross bookings to be between $52.25 billion and $53.75 billion, and adjusted EBITDA to range from $2.41 billion to $2.51 billion, slightly below market expectations. CEO Dara Khosrowshahi emphasized continued investment in customer relationships and AI-driven innovation as key areas of focus for the future.

Uber Technologies Inc. (NYSE:UBER) is a technology company that provides a platform for services like ride-hailing, food delivery, and freight transport through its mobile app. The company connects customers with drivers or couriers who use their own vehicles to provide these services, earning money on a flexible schedule.

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Disclosure: None. This article is originally published at Insider Monkey.