Dara Khosrowshahi, CEO of Uber, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019.shares rose as much as 7% in extended trading on Thursday after the company said that it was withdrawing guidance given during its Q4 earnings call and warned that it expects an impairment charge because of declines in investments.
The company's ride-sharing and delivery businesses have been affected by the coronavirus pandemic and lockdowns, but Uber has given little guidance on the expected effects. CEO Dara Khosrowshahi said on a call with analysts March 19 that booking declines in Seattle had reached 60% to 70% on an annualized basis.
Investors may be cheered by the relatively small effect of programs that Uber rolled out to help drivers during the pandemic. The company said it expects that program to reduce GAAP net income by an estimated $17 to $22 million in Q1 and an estimated $60 to $80 million in Q2. Uber also said it would take a one-time charge between $1.9 billion and $2.2 billion on the value of equity investments, affecting GAAP net loss by that amount. As of the end of last year, Uber had had stakes in Didi, Grab, Zomato, and its Yandex.Taxi joint venture, according to
FYI- stock going up AH has nothing to do with their PR...
DriversAmerican Wait to tomorrow this guy never helped drivers shame disgusting greedy ascholes thanks
Dow is going to b back at 30K with half the companies shuttered and the other half at low level with 20+% unemployed. Makes no sense other than Wall Street being on a Fed driven sugar high from stimulus but at some point someone has to buy things...
Dow is going to back at 30K with half the companies shuttered and the other half at low level with 20+% unemployed. Makes no sense other than Wall Street being on a Fed driven sugar high from stimulus but at some point someone has to buy things...
Everybody says they wish they bought apple or amazon in 2000, Now people are going to be saying I wish I shorted Uber in 2019
Ponzi.
Makes sense.
The markets are nuts
This is even MORE evidence that everything on Wall Street is straight up rigged... uberSUCKS
Is this a joke I actually had to go check their price to know this is not a typo.....
Hahaha uber stock rose 7%. This is how you know the system is rigged.
What?
Maybe if we're lucky they'll go bankrupt & a better player will take over