Watch CNBC's full interview with Uber CEO Dara Khosrowshahi
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- Опубліковано 9 лип 2024
- Uber CEO Dara Khosrowshahi sits down with CNBC's Andrew Ross Sorkin to discuss Uber's latest quarterly earnings results as well as the coronavirus outbreak, the company's goals for the food delivery sector and more.
Shares of Uber rose 9.5% Friday, a day after the company forecasted reaching a key profitability goal sooner than expected. The stock is on pace for its best day ever since debuting in May.
The move added $6 billion to Uber’s market valuation, bringing it to $69.3 billion. During the trading day, it briefly went above the market cap it reached at the end of its first trading day, which was $69.7 billion.
In its fourth quarter 2019 earnings call Thursday, CEO Dara Khosrowshahi told analysts the company would move its EBITDA profitability target to Q4 2020, sooner than his previously stated goal of becoming profitable for the full year of 2021. The announcement sent Uber’s stock up as much as 10% in after hours trading.
Uber reported accelerating revenue growth on an annualized basis of 37% up from 30% in the previous quarter. The company beat the Refinitiv consensus estimate of $4.06 billion in quarterly revenue, reporting $4.07 billion. It also reported a better-than-expected loss per share: 64 cents excluding items, compared with a 68 cent loss projected in the Refinitiv survey.
The company reported a net loss attributable to the company in 2019 of $8.51 billion, mainly due to stock-based compensation. It expects its losses to be less pronounced than analyst estimates for 2020. Uber forecasted a $1.35 billion loss at the middle range before interest, taxes, depreciation and amortization, lower than the FactSet analyst consensus of a $2.83 billion loss.
In notes Friday morning, analysts highlighted the new EBITDA profitability target, with many putting a buy or outperform rating on the stock. Analysts at MKM Partners, who upgraded the stock to a buy rating and moved their price target from $34 to $45, wrote that incremental margins on rides revenue have contributed to the accelerated profitability target.
“To date, we think Uber was being valued as if it is going out of business - either due to ongoing cash burn or due to regulatory environment,” the analysts wrote. “In our view, the trendline from the past couple of quarters provides a firm valuation floor on Uber shares. This should help with lingering negative sentiment related to unclear regulatory environment.”
Raymond James analysts said they “see the narrative changing” on the heels of the new profitability target combined with positive long-term margin targets for Uber’s ride-sharing and food delivery businesses.
“Uber is well-positioned for~20%growth and expanding margins for the foreseeable future,” they wrote, reiterating an outperform rating and $54 price target.
Davidson analysts, who maintained a neutral rating on the stock but raised their price target from $35 to $43, said the new profitability goal “does assume modest improvements in the competitive environment but doesn’t require further big changes to UBER’s geo/market footprint. UBER has levers to hit this new timetable, but, given the fluid competitive/regulatory backdrop UBER still faces in most of its markets, deftly balancing healthy growth and this new profit timeline may prove difficult.”
Uber has faced several regulatory challenges in international markets including London and Colombia. It also faces domestic challenges to its business model from California’s new law that requires gig economy workers to be reclassified as employees instead of contractors.
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Dara knows how to make people feel good about his business in the way he communicates.
I like how he snuck in free advertisement for Cloud Kitchens lol.
Business aside, Dara is a great reason to invest in Uber, great communicator and leader.... master of interviews
His compensation should be directly tied to market cap and profitability. He should give up all other comp.
Harry Chu isn’t it?
@@jpv2101 Dara was paid $43 million last year. Pretty nice to lose all that money and pay yourselves a king's ransome.
Sw eet is not black or white, remember Amazon started in 1992 and made first profits a short while ago.... you can indeed be losing money and be a great CEO is a) you are growing the company and b) getting closer and closer to profitability.... which in my opinion he is
Master of manipulations
What a well composed normal guy . He has the experience and discipline to make the company a giant over the next decade ++. Gen Alpha wont even need a driving licence .
where it all started, should evolve towards $1tr cap... see you at $555 come 2024ish or better.
Uber gonna be rich soooooon. They need to stop bringing money in MnA and RnD
TSLA bruh
@@japrogramer glad to have you on board brah
i doubt a pizza and french fries delivery company is worth that much....
agree this is the facebook and google of ride sharing full stop
Uber and Tesla are the FUTURE!
@Sw eet oh yeah like if people were forced to take the job 🤦♂️
Sw eet That is a brilliant comeback. Superb!
Sw eet who the heck suffers fool? They provide jobs decent jobs depending location. And great second income jobs in other locations. Just cause you aren’t happy with your life doesn’t mean everyone is suffering
@@mikec4461 He's a Taxi/Cab Driver for obvious reasons. Butthurt much. Many Taxis in Germany have Stickers on them pissing on the Uber Logo. Desperation at its best (:
Luke Swain exactly just go work for Uber then and stop crying right?
I’m with this company till the very end. 20% of my portfolio now
Long Uber 🙏
I just did the same. Plan to hold for at least 5 years looking more like a 10-15 year hold
In California, Uber is getting $6.80 per mile after fee's, then paying drivers $0.59 cents per mile, Driver pays for Gas costs.
Uber keeps $6.00 per mile! Driver must also pay for all car costs, insurance, etc, out of their $0.59 cents a mile.
He’s such a great interview! I love his Dalio interviews.
Saving the best for last, that was awesome! New food delivery by Travis, I need to hear about this one, can't wait!
Outstanding Interview.
Dara was a little tongue tied when asked about Privacy...I can understand why simply because his "employees" are "not Employees", but are private contractors, still. ? ? ?
"I do think that the era of only pricing to win business, is over, and I think it's leading to the era of actually having a great service... We think you should price based on service, not only price based on discount" - Uber CEO Dara Khosrowshahi
Well said Dara!
tough questions, but dara stayed cool
And the business of taking more money from the Drivers. Cant wait for his strategy in California.
Thanks for your opinion. Investor should look every angle of the business. Waiting for big man to change the world (when he started it was his "promise ")
@@kazirahman9787 Agree. We will see! This is just more hot air....you will see!
YOU HAVE YOUR SECOND CHANCE DON'T MESS THIS UP!
Uh oh down to $15 a share
Conumers don’t realize prices have been going up for a while!
He should add airline travel to the platform
This was such a good interview Ross asked all the right questions. Well done.
straight straight Not California AB5 though!
@Sw eet Most of their workers make really good money and they employed themselves. If they don't like it they can leave.
@Sw eet Also we both are using UA-cam owned by Alphabet. You think they have a moral compass.
Uber is a taxi company with an App which supporters contend make it a Tech company and should be valued as such. Their founder cashed out Billions last month and gave up his BoD seat. This is Weworks, except it got to IPO before it was called out for being a scam.
Yes. But they are investing their Uber income in R&D in the technology sector.
Harry Chu I don’t agree with that statement, here is why: I think the main difference between a tech worthy valuation and non tech worthy valuation is the ability to keep a constant cost structure regardless of growth.... in that sense Uber cost structure does not grow as more rides are given, while Wework’s cost structure did with every building they opened.
If they were to divest right now from their other businesses and just keep the rides business, they would have made 2B EBITDA in 2019. If you apply an Amazon multiple to that you would get a 120B dollar valuation for a business unit that grows faster than Amazon YoY.
Its a long term play, but if there’s a man for the job is Dara.
They have an app and software , while outsourcing everything else yes they proven the concept but ? Who has the CARS ,factories,batteries,AI, ENERGY. The world is changing so fast that nobody would think that Uber is laying the foundation for Tesla and UBER is gone in 5 years ..
Look UBER MRT CAP AND TESLA .... its over guys
@@shawnaedson2156 They are stuffing the pocket's of their executives. Dara got $43 million last year and will get more this year for a failing scam company. The Analyst community loves him b/c they are his friends.
This man brought the leadership this wonderful company needed. Making the world better, one connection at a time!
Jamie Arzola you must be making millions? “A Great company”?
Uber stock it's going to be the next Tesla In 3-5 years. Don't miss the ride
The most human CEO I've ever heard of. I love Dara. He's got the Data!
Is it too late to buy at 40 now?
MixedBoii definitely not in the long term
No they will easily go up to the $200 price
barry williams I bought some
SHORT THIS STOCK......SELF DRIVING WILL NEVER HAPPEN.
@@csxcobracsxcobra334 even without autonomous vehicles they will be profitable just not AS profitable with self driving cars. There are other ways to tap into revenue.
Think about this Dara just talked about the data that Uber collects. They could sell data and advertising space. They know where you shop, restaurants, bars , retailers etc you shop at and could sell that data to companies to advertise to you. They could sell advertising space on their app for other companies to tap into their 110 million MAUs monthly active users. How does Facebook make billion without charging a dime to its users?? That's how. There for doing that Uber could easily surpass Facebook in market cap value commanding a price target of $400-600 per share
Uber sucks!
He must have told the interviewer not to mention the AB5 bill in California and the low driver payscale accross the nation
I'm sure of it.
Uber Will Have A Biz which Deliver Vegetables and Meat To Business from Farm that Worth More then Uber.
I approve
What is uber doing when Tesla is launching its robotaxi fleet? Uber‘s autonomous Programm is years behind teslas and I See no way that they can change this. I think many uber Investors as Well as analysts are Not aware of that.
@V K It depends on various factors but I'm pretty sure that it will happen within the next five years. China welcomed Tesla with open arms and moreover they are open to new technologies therefor China could possibly be a country in that they'll get a quick permission. After it's been proven to work in one country, others will follow.
i give him credits on that he pays people but he blocked the drivers when the driver do something to riders when he doesn’t follow protocol of safety, together with verizon block people from getting jobs because everything is connected n he prevent people from getting hiring or slow down their internet,
THE LORD OWNS YOUR COMPANY THE LORD SEES EVERTHING!
Disruptive company will always win the old one Uber will do good in the future
2024 when self driving car will be 2.0
this man is a good leader
Can you please help my boyfriend find better driving jobs? Thank you!
Uber, Tesla, Ethereum and Bitcoin are going to dominate 2020
F M add Tesla and ETH here
@@Ducotevision done
An ad for mobilealliance.org came on before this video 😆😆😆
Get in last, get out first. I don't understand that. What if your stop is further away from the other people?
HELP MATTERS! DO THE RIGHT THING AND GOOD WORKS OF THE LORD, AND YOU WILL RECEIVE YOUR BLESSINGS!
long TSLA
haha trust me if someone called 911 on uber i will be dead before the cops arrive at the scene, his company shouldn’t exist at all
Karma is going to kick this thief in the ass.
He billionaires ( kaaaaaaaaaaaaaaa meeeeeeeeee haaaaaaaaaaaaaaa meeeeeeeeeeeeeeeeeeeeeeeeeeee haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa ( for love of worker and flying cars )
DECEPTIVE COMPANY............HATED BY ALL DRIVERS.
I really never hated Uber. I rode and drove.
$50
Dara looks like Cain from Robocop 2😂😂😂
There is a worldwide revolution going on right now. Uber Drivers are starting to unite against this Unethical company.
#February26th
Great, maybe one day Uber will bring rates back to where drivers can earn a living wage without having to work 12 hours a day, 7 days a week..
I hope Uber and Lyft will go bankrupt and their whole corporate staff specifically programmers and lawyer will end up in lower level of hell but not before compensating all of their drivers up to six months pay whose blood is their food.
A lot of crystal ball wizards in the comment section.
Uber is best company
What about driver who falsely accused and deactivated permanently obviously they’re not help driver they’re getting rid of driver especially rider who claims the driver touch the riders butt. No way for get it Uber and Lyft they abandoned drivers regardless if I have a dash cam they still removed drivers sorry for being annoying but Uber drivers like me who has been going through tough time nobody knows what’s going on in this world full of bad people who demanding on drivers to give them free rides entitlement of bad passenger
Uber Will Have A New App For engineers and High Working Class Name Uber Wall Street or Another Name with Higher Prices and Taxi go much Faster. With Better Cars Like Tesla. And Can Even Drive from AirPorts In USA.
The RONA ruined that plan
Uber still has the worst customer and partner service you will see.
Uber Eats I miss u...zomato is getting heavy on my pocket
Only way to survive is if they switch to owning lots of teslas that go to pick people up but then again just invest in tesla
Scaming drivers with 2$ delivery and 4$ rides.
POS
Jimmy T Why you said that. ? What’s your reasoning ?
He learned from Vince McMahon well, About Independent Contractors.
Now there is a whole Industry of taking advantage of other's..
Uber pays you for driving for them. Therefore u can pay for your own expenses with that money. Not sure why u think they need benefits.
@@shawnaedson2156 every worker in this country deserves A living wage.
not A minimum. unless we WANT there to be people that have, and others that have not.
Shawna Edson I dare you to spend a month driving for Uber.
@@JoshPitts530 I would not wish that on my worst enemy.
There is no privacy "issues" for rides. There should be privacy. The uber driver that taped should be eliminated off the platform and outed.
WRONG..........DRIVERS NEED TO BE PROTECTED AGAINST RIDERS MAKING FALSE CLAIMS
These guys will soon be eviscerated by Tesla.
Danesovic Overthrowing Uber’s ride sharing business is very difficult. Likely it’ll end up being a Tesla-Uber partnership.
@@Nimatodes Uber is a smrtphone app operating at a loss while Tesla is transforming entire auto industry. Once they get fully autonomous AI driving, Uber is fucked.
@@danesovic7585 Fully autonomous won't be a thing. Maybe 10 years from now.
Plus you're forgetting that people that can pop 20k on a car is far from being a majority. Tesla is just a U.S thing for now, and likely to remain so for at least two or three years.
@@3kleft All i can say is never bet against Elon. Also 10 years is not bad although i think it will happen sooner.
Thank you for letting me know about your left-leaning values. Police do great work all around this country every day. Your words say the opposite. Your words speak of generalizations and stereotypes of brutality and racism. I do not believe this is, as a whole, correct. There will always be parts of our society that are deplorable creep into our police, military, fire and other organizations. However, your generalization defines you and your organization. As long as you are the CEO, I will no longer use Uber until you retract your thoughtless statement concerning “police brutality”. I have never been a police officer, but I have been military for over 20 years. Our organization was defined by the actions of the few in Vietnam. Thousands of Soldiers who served honorably came back to being spit in the face and physically abused by people like you. They were called baby killers and only served their country, because their country sent them there. In this day in age, we have it again, but domestically the same is happening to our police community. You sir, and people like you, are inciting this notion and the riots. I reject your beliefs and your company. Good bye, at least while you remain as CEO or when I hear about your retracted, inflammatory statements.
He is the worse ceo. He doesn’t care about drivers