Welcome to our dedicated page for Uber Technologies news (Ticker: UBER), a resource for investors and traders seeking the latest updates and insights on Uber Technologies stock.
Uber Technologies, Inc. (NYSE: UBER) regularly issues news that reflects its role as a technology platform for mobility, delivery, and freight. Company updates often highlight how Uber is expanding the ways people, food, and things move through cities, in line with its mission to create opportunity through movement. These announcements provide insight into new partnerships, product offerings, and geographic initiatives across its apps.
Recent news underscores Uber’s activity in grocery and retail delivery. The company has announced the addition of nearly 2,700 Kroger Family of Companies locations to the Uber, Uber Eats, and Postmates apps, allowing customers to order groceries and household essentials for on-demand or same-day delivery. Other releases describe the expansion of Uber’s retail selection with regional and national partners, as well as the addition of brands such as PacSun, Camping World, and Lush to its delivery platform.
Uber’s news flow also covers developments in autonomous mobility and delivery. Press releases describe robotaxi collaborations with partners including Lucid, Nuro, WeRide, and Avride, featuring pilot and commercial services in locations such as Abu Dhabi, Dubai, and Dallas. Additional announcements detail autonomous delivery partnerships with Starship Technologies and Coco Robotics, which integrate sidewalk and urban delivery robots into the Uber Eats experience.
Investors and users following UBER news can expect coverage of quarterly earnings conference calls, segment and metric updates, new non-GAAP reporting measures, capital markets transactions, and expansions of Uber’s hybrid network of human drivers and autonomous vehicles in development. This news page aggregates these items so readers can review how Uber’s mobility, delivery, and freight activities evolve over time.
Uber Technologies will hold its fourth quarter 2021 financial results conference call on February 9, 2022, at 2:00 p.m. PT. The company will also host an Investor Day on February 10, 2022, starting at 8 a.m. PT in San Francisco. Both events will be accessible via a live webcast on Uber's Investor Relations website. The company emphasizes its ongoing commitment to transparency through its website and other communication channels.
Serve Robotics has partnered with Uber Technologies (NYSE: UBER) to introduce an on-demand robotic delivery service for Uber Eats customers in Los Angeles, set to launch early next year. Founded in 2017 as a robotics division of Postmates, Serve aims to enhance affordable, sustainable delivery through its autonomous technology. The CEO of Serve expressed optimism about the partnership, highlighting its potential to improve convenience for merchants and customers. The collaboration seeks to offer a safe, reliable, and environmentally friendly delivery option.
Uber Technologies reported record Gross Bookings of $23.1 billion for Q3 2021, a 57% YoY increase, despite a net loss of $2.4 billion, impacted by a $2.0 billion revaluation of equity investments. Revenue surged 72% YoY to $4.8 billion, bolstered by a $123 million accrual release related to UK driver classification claims. Adjusted EBITDA reached $8 million, marking its first profitable quarter as a public company. Mobility and Delivery segments also showed robust growth, with Mobility Gross Bookings up 67% YoY and Delivery up 50% YoY. Unrestricted cash stood at $6.5 billion.
Uber Technologies announced a partnership with Bed Bath & Beyond and buybuy BABY to introduce a new baby and kids vertical in the Uber Eats app. This feature enables parents to order essential items for their families with ease. Starting November 1, 2021, products from nearly 120 buybuy BABY and over 750 Bed Bath & Beyond locations will be available for on-demand delivery. To celebrate, Uber is offering $20 off orders of $60 or more until November 11. Additionally, Uber is donating $200,000 to Baby2Baby, a nonprofit that provides essential items to children in need.
Hertz and Uber are launching a partnership to enhance electric vehicle (EV) availability in the U.S. by offering up to 50,000 Tesla rentals for Uber drivers by 2023. Starting Nov. 1, rentals will be available in major cities including Los Angeles and San Francisco, with plans for nationwide expansion. This collaboration supports Uber's goal of zero-emissions mobility and Hertz's commitment to electrification. Drivers renting Teslas will benefit from financial incentives and access to charging networks. The program could expand to 150,000 vehicles in the next three years, though external factors may affect plans.
Uber (NYSE: UBER) and Wallbox N.V. (NYSE: WBX) announced a strategic partnership aimed at easing the transition to electric vehicles (EVs) for Bay Area rideshare drivers. This aligns with Uber's commitment to becoming a zero-emissions mobility platform by 2030. Wallbox will offer discounted charging solutions, including the widely popular Pulsar Plus charger, designed for home installations. The Bay Area was selected for a pilot program due to favorable property conditions for EV charging. Success could lead to broader availability across the US and globally.
Uber Technologies, Inc. (NYSE: UBER) has finalized the acquisition of Drizly for approximately $1.1 billion, comprising around 18.7 million newly issued Uber shares and cash. This strategic move aims to enhance Uber Eats by integrating Drizly's alcohol delivery services, which have seen a 200% surge in consumer demand over the past year. Drizly, the leading on-demand alcohol marketplace in North America, will continue to operate its app while being featured on Uber Eats. This acquisition is expected to broaden Uber's service offerings and geographic reach.
Uber Technologies, Inc. (NYSE: UBER) will hold its quarterly conference call on November 4, 2021, at 2:00 p.m. PT to discuss its third quarter financial results. A live webcast will be available on Uber's Investor Relations website, with a replay accessible for 90 days. The company emphasizes using its website for disclosing material information in compliance with Regulation FD. Founded in 2010, Uber aims to create opportunities through movement, facilitating over 25 billion trips and transforming urban mobility.
Uber Technologies, Inc. (NYSE: UBER) has launched its first official Holiday Shop on the Uber Eats platform, starting October 1, 2021. This initiative allows customers in Los Angeles, San Diego, and West Palm Beach to order Halloween-themed items for delivery. The shop will feature a selection of products, including pumpkin decorating kits and carving kits, with prices ranging from $5 to $25. The Holiday Shop aims to enhance the convenience of seasonal shopping while supporting a family-owned business. Uber Pass holders will receive $0 delivery fees on eligible orders over $15.
UATP and Uber for Business have formed a strategic partnership, allowing UATP corporate account holders to use their accounts for rides and meals through Uber Wallet. This integration aims to streamline payments for corporate travelers, consolidating expenses within a single platform. Uber, operational in 71 countries, will benefit from a new source of global corporate travelers, enhancing its service offerings. This collaboration is anticipated to improve operational efficiency for both companies and enhance the overall customer experience.