{"id":110301,"date":"2021-11-08T09:30:00","date_gmt":"2021-11-08T14:30:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=110301"},"modified":"2023-01-19T17:37:51","modified_gmt":"2023-01-19T22:37:51","slug":"payday","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/payday\/","title":{"rendered":"Payday"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">What&#8217;s going on?<\/h2>\n\n\n\n<p>Uber&nbsp;<a href=\"https:\/\/www.cnbc.com\/2021\/11\/04\/uber-earnings-q3-2021.html\">reported<\/a>&nbsp;mixed results late on Thursday, but nothing\u2019s going to rain on the ride-hailing giant\u2019s first profitable (ish) quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-this-mean\">What does this mean?<\/h2>\n\n\n\n<p>Revelers and merry-makers of all kinds are finally back in action, and they\u2019ve been hopping into Ubers to get wherever they need to go. And it shows: the company saw 39% more trips last quarter than the same time last year, and the total value of bookings was up 67%. Uber did so well, in fact, that it finally reported its first-ever quarterly profit.<br><br>Take that with a pinch of salt, mind you: the company\u2019s investment in Chinese self-driving car company Didi has plummeted by $3.2 billion, even if it hasn\u2019t realized those losses. A handful of salt, actually: Uber\u2019s profit outlook for this quarter came in worse than expected, maybe because the company\u2019s worried lockdowns are set to make a comeback.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-should-i-care\">Why should I care?<\/h2>\n\n\n\n<p><strong><em>The bigger picture:&nbsp;<\/em><\/strong><em>Uber has some explaining to do.<\/em><\/p>\n\n\n\n<p>Uber\u2019s food delivery service was a gift last year: the drop-off in its ride-hailing segment was \u2013 at least in part \u2013 offset by Uber Eats, which nearly tripled its revenue last year versus the year before. But it\u2019s still not profitable, even as the ride-hailing segment posted a profit of more than $500 million last quarter. And that won\u2019t help placate impatient investors, who had already sent its stock down 11% this year before the announcement.<br><br><strong><em>Zooming out:&nbsp;<\/em><\/strong><em>Big summer blowout.<\/em><\/p>\n\n\n\n<p>Uber isn\u2019t the only \u201csharing economy\u201d firm to fret about lockdowns: Airbnb previously warned that this summer \u2013 usually the busiest time for the vacation rental giant \u2013 might be a quiet one. What it didn\u2019t anticipate was that the working-from-home trend would allow vacationers to mix business with pleasure, taking longer and more frequent trips. That helped&nbsp;<a href=\"https:\/\/www.cnbc.com\/2021\/11\/04\/airbnb-abnbearnings-q3-2021.html\">push<\/a>&nbsp;its profit up by a massive 280% compared to last year, which might be why investors initially sent its stock up 3%.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted on November 5, 2021 &#8211; <a href=\"https:\/\/www.finimize.com\/wp\/news\/payday\/\">Payday<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uber reported mixed results late on Thursday, but nothing\u2019s going to rain on the ride-hailing giant\u2019s first profitable (ish) quarter.<\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,8,9,22,26,3],"tags":[780,447],"contributors-categories":[13597],"class_list":{"0":"post-110301","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-north-america","7":"category-region","8":"category-securities","9":"category-stocks","10":"category-text-articles","11":"category-traders-insight","12":"tag-profit","13":"tag-uber","14":"contributors-categories-finimize"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Payday | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"Uber 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