Uber Technologies Stock Price, News & Analysis

Uber (NYSE: UBER) and Visa (NYSE: V) announced the Grants for Growth program, providing $1 million in funding to support small businesses in 10 U.S. cities through the Local Initiatives Support Corporation (LISC). 100 merchants received $10,000 each to address immediate operational needs. Notably, 92% of recipients were entrepreneurs of color and 69% were female-owned. The initiative aims to assist restaurants as they recover from pandemic challenges, focusing on minority, veteran, and women business owners.

Uber Technologies announced a new self-sign up product for Uber Eats, enabling restaurants to onboard directly through POS partners Toast and Clover. This industry-first integration simplifies the process, allowing merchants to complete setup in just a few clicks. The initiative aims to address staffing challenges faced by restaurants and unlock growth potential with Uber Eats. Available now in the US and Canada, these integrations streamline order management, enhancing operational efficiency for hundreds of thousands of merchants.

Drizly, a leader in beverage alcohol e-commerce and an Uber company, has unveiled Drizly Ads, a comprehensive suite of advertising solutions aimed at connecting alcohol brands with consumers throughout their purchasing journey. This offering allows partners to utilize search, display, and custom ads, reaching high-intent shoppers across nearly 5,000 retailers in 35 states. Industry leaders like Moët Hennessy and Diageo have benefited from Drizly's existing advertising capabilities, and the new platform enhances these options, providing an omnichannel marketing approach for brands of all sizes.

Uber Technologies announced a multi-year partnership with Nuro for autonomous food deliveries across the U.S., starting in Houston, TX, and Mountain View, CA. The collaboration will leverage Nuro's zero-occupant electric vehicles designed for food and goods transport, aiming to enhance last-mile delivery efficiency. This initiative is expected to support local businesses and improve customer experience through faster delivery services. Uber Eats currently partners with over 825,000 merchants globally, aiming to innovate in autonomous mobility and delivery.

Uber Technologies, Inc. (NYSE: UBER) announced that CEO Dara Khosrowshahi will speak at the Goldman Sachs Communacopia + Technology Conference on Monday, September 12th, at 9:15am PT (12:15pm ET). An audio webcast will be available on the Uber investor relations website.

Uber, founded in 2010, aims to create opportunities through movement, having completed over 30 billion trips and continuously innovating to improve transportation.

Rokt has announced partnerships with Uber (NYSE: UBER) and AMC Theatres (NYSE: AMC) to enhance revenue opportunities through its ecommerce technology. The collaboration with Uber will initially focus on Uber Eats in the US, Canada, Australia, and Japan, aiming to bolster revenue at checkout. AMC has begun to see significant revenue gains via Rokt's platform, enhancing customer engagement and lifetime value. Rokt's technology processes billions of transactions, offering tailored experiences that enhance profitability.

On August 15, over 900 Office Depot and OfficeMax locations will be accessible for shopping through Uber Eats. This partnership allows consumers to order a variety of business and school essentials for delivery. Uber One members can enjoy a $0 delivery fee and a 5% discount with a minimum order of $15. The collaboration aims to provide on-demand delivery during the busy back-to-school season, enhancing consumer convenience. The promotion runs through September 10, fostering significant savings on popular school supplies.

Uber Technologies has announced an expansion of its partnership with The Body Shop, allowing for same-day delivery of beauty products through Uber Eats from 75 retail locations across the U.S., effective August 10, 2022. This initiative aims to meet the growing demand for on-demand shopping, offering over 2,000 products including popular items like Shea Body Butter and Ginger Shampoo. Uber One members can enjoy free delivery on orders over $15. This expansion enhances Uber's commitment to the retail and grocery sectors, targeting changing consumer shopping habits.

Uber Technologies, Inc. reported substantial growth in its Q2 2022 earnings, with Gross Bookings reaching an all-time high of $29.1 billion, a 33% year-over-year increase. Revenue rose 105% to $8.1 billion, exceeding the Gross Bookings growth due to a business model change in the UK and the Transplace acquisition. Despite a net loss of $2.6 billion, primarily from equity investments, Adjusted EBITDA improved to $364 million. The platform's monthly active consumers hit 122 million, reflecting a 21% increase YoY. Outlook for Q3 anticipates Gross Bookings between $29 billion and $30 billion.