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3
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· Posted on
February 21, 2024

Uber gets a 5-star rating from investors after smashing its earnings last quarter

Uber's last quarter of 2022 was it's "strongest quarter ever" after a few things worked in their favour.

What's the key learning?

  • Global macroeconomic conditions can provide a tailwind or headwind for a business.
  • In Uber's case, they saw an uptick in drivers as more people look for side hustles to top up their income.
  • There's also been an increase in customers as more people use Uber with the cost of cars becoming out of reach.

👉 Background: We know Uber as the OG ridesharing app and the early movers in the food delivery space too. Over the past few years, Uber has really seen its different divisions ebb, flow, go up and plummet.

👉 What happened: With inflation surging globally and the economy uncertain, it was unclear how the overall Uber business would perform. But Uber has come out swinging - its revenue was up 49% year over year.

👉 What else: Uber said that the last quarter of 2022 was its “strongest quarter ever” after a number of macro events played into their favour.

What's the key learning?

💡Uber inflation, Uber revenue.. The macro economic conditions can provide a tailwind or headwind for businesses - depending where you sit.

💡Uber just happens to be perfectly positioned in our current economy.

  • It has seen an enormous jump in the number of drivers (supply-side) as more people look for side-hustles and additional income.
  • It has also seen a major jump in customers (demand-side) as more people use Uber's cars and scooters when the cost of cars becomes unaffordable.

💡 And now, investors are whetting their appetite for Uber to drop the potential “p” word this year (profit).

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