Uber Technologies Stock Price, News & Analysis

Uber Technologies (NYSE: UBER) and Turo have announced a multi-year partnership to integrate Turo's peer-to-peer car sharing marketplace into the Uber Rent platform. Starting in early 2025, Uber customers in the US, UK, Canada, Australia, and France will be able to rent from Turo's extensive selection of over 1,600 vehicle makes and models directly through the Uber app.

This collaboration aims to boost opportunities for Turo hosts and provide Uber users with access to a diverse range of vehicles. The partnership is expected to tap into a $150 billion-plus total addressable market, promoting shared vehicle access and reducing private car ownership. Both companies view this as a strategic move towards shaping the future of transportation.

Wayve, a leader in Embodied AI for self-driving, has announced a strategic partnership with Uber (NYSE: UBER). Uber will make a strategic investment in Wayve as part of the company's Series C funding round. The collaboration aims to accelerate the development of automated driving capabilities across various levels, from Level 2+ advanced driver assistance to Level 4 autonomous vehicles.

Key aspects of the partnership include:

• Collaboration with automotive OEMs to enhance consumer vehicles
• Deployment of future Wayve-powered self-driving vehicles on the Uber network globally
• Focus on Wayve's mapless end-to-end AI technology for automated vehicles
• Potential access to Uber's network of over 150 million monthly global users

This partnership aligns with both companies' vision of reimagining mobility and accelerating the adoption of autonomous driving technologies worldwide.

Uber Technologies, Inc. (NYSE: UBER) and Cruise have announced a multiyear strategic partnership to integrate Cruise's autonomous vehicles into the Uber platform. The collaboration is set to launch next year, initially featuring a dedicated fleet of Chevy Bolt-based autonomous vehicles. When Uber riders request qualifying trips, they may have the option to be transported by a Cruise autonomous vehicle.

This partnership aims to expand the accessibility of autonomous driving technology, potentially enhancing urban mobility and safety. Uber CEO Dara Khosrowshahi emphasized the company's role in introducing autonomous technology globally, while Cruise CEO Marc Whitten highlighted their mission to create safer streets and redefine urban life through driverless technology.

Uber Technologies, Inc. (NYSE: UBER) has announced that CEO Dara Khosrowshahi will participate in a fireside chat at the Goldman Sachs Communacopia & Technology Conference on Monday, September 9 at 2:25pm PT (5:25pm ET). An audio webcast of the event will be available on Uber's investor relations website.

Uber, founded in 2010, has facilitated over 52 billion trips to date. The company's mission is to create opportunity through movement, providing access to rides at the touch of a button. Uber aims to change how people, food, and things move through cities, opening up new possibilities.

Serve Robotics (NASDAQ: SERV) and Shake Shack (NYSE: SHAK) have partnered to offer autonomous robot delivery via Uber Eats in select Los Angeles areas. This collaboration marks Serve's progress towards deploying 2,000 AI-powered sidewalk delivery robots on the Uber platform by 2025. Serve's robots, which have been operating on Uber Eats since 2022, offer quick, convenient, and contactless delivery with advanced features including:

• Efficient route planning
• Secure food transit
• Cost-effective operations
• Safe navigation using GPS and AI
• Eco-friendly, all-electric design

This partnership aims to enhance guest experiences and expand Serve's geographic footprint while providing an innovative, affordable, and reliable delivery option for customers.

Uber Technologies (NYSE: UBER) reported strong Q2 2024 results, with Gross Bookings growing 19% YoY to $40.0 billion. Revenue increased 16% YoY to $10.7 billion, while Adjusted EBITDA surged 71% YoY to $1.6 billion. The company achieved record profitability with income from operations of $796 million, up $470 million YoY. Trips grew 21% YoY to 2.8 billion, averaging 30 million trips per day. Uber's cash flow remained strong, with operating cash flow of $1.8 billion and free cash flow of $1.7 billion. The company initiated share repurchases, buying back $325 million of common stock. For Q3 2024, Uber projects Gross Bookings of $40.25-$41.75 billion and Adjusted EBITDA of $1.58-$1.68 billion.

Uber Technologies, Inc. (NYSE: UBER) and BYD Co. have announced a multi-year strategic partnership aimed at introducing 100,000 new BYD electric vehicles to the Uber platform across key global markets. The partnership will initially focus on Europe and Latin America, offering drivers access to competitive pricing and financing for BYD vehicles. It will later expand to the Middle East, Canada, Australia, and New Zealand.

The collaboration aims to reduce the total cost of EV ownership for Uber drivers, accelerating EV adoption on the platform. The companies may also offer discounts on charging, maintenance, insurance, and financing based on market needs. Additionally, Uber and BYD will collaborate on future autonomous-capable vehicles for deployment on the Uber platform.

Uber Technologies (NYSE: UBER) has announced its upcoming second quarter 2024 financial results conference call, scheduled for Tuesday, August 6th at 5:00 a.m. Pacific Time (8:00 a.m. Eastern Time). Investors and analysts can access the live webcast and earnings release materials on Uber's Investor Relations website at investor.uber.com. The conference call replay will be available for at least 90 days.

Uber emphasizes its commitment to transparency by using its Investor Relations website to disclose material nonpublic information and comply with Regulation FD. The company advises investors to monitor this platform alongside traditional channels like press releases and SEC filings for comprehensive updates.

Uber Technologies (NYSE: UBER) has announced a new partnership with Save A Lot, a major discount grocer with over 600 locations across 32 states. The collaboration allows over 150 Save A Lot stores to offer on-demand and scheduled delivery via Uber Eats. Additionally, Save A Lot shoppers can use Health Benefit cards to purchase eligible items on Uber Eats.

This partnership aims to make groceries more accessible and affordable, with customers enjoying up to 50% off orders over $40 using the code SAVEALOT50 until June 30, 2024. Uber One members will benefit from $0 delivery fees and 5% off orders of $35 or more.

Since launching its grocery category in July 2020, Uber has formed several partnerships and now offers grocery delivery in over 30 countries. This new partnership with Save A Lot expands Uber Eats' reach and enhances its service offerings.