Uber set to join the S&P 500 index in latest sign of a turnaround for the ride-hailing service
1 year, 3 months ago

Uber set to join the S&P 500 index in latest sign of a turnaround for the ride-hailing service

Associated Press  

LOS ANGELES — Uber’s stock is set to join the S&P 500 index later this month, the latest sign that the ride-hailing and delivery company is turning its business around after struggling through much of the pandemic. The San Francisco company will be added to the benchmark index prior to the opening of regular trading on Dec. 18, S&P Dow Jones Indices said late Friday. The pandemic severely stymied Uber’s ride-hailing business as government lockdowns kept most people at home. It wasn’t until the third quarter when Uber qualified for inclusion in the S&P 500, with a trailing 12-month net income of $1.05 billion.

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History of this topic

Uber posts 4Q profit as ride-hailing service bounces back
3 years, 1 month ago

Uber posts 4Q profit as ride-hailing service bounces back

Associated Press  

SAN RAMON, Calif. — Uber’s ride-hailing service edged closer to returning to its pre-pandemic levels during the final three months of last year, but its prospects remain clouded by the future direction of the novel coronavirus that has plagued its business. But Uber’s forecast for the current January-March period was slightly below what Wall Street had been hoping, suggesting that …

Uber’s revenue jumps as riders venture out after Omicron surge
3 years, 1 month ago

Uber’s revenue jumps as riders venture out after Omicron surge

Al Jazeera  

Uber’s fortunes have ebbed and flowed along with COVID-19 infection rates and restrictions. Uber Technologies Inc. reported revenue in the fourth quarter that beat analysts’ estimates as it recorded the most active users in its history, helping mute disruptions from omicron in ride sharing and boosting gains in delivery. Like it’s rival Lyft Inc., Uber’s progress toward reaching pre-pandemic ridership …

Uber’s valuation appraisal more complex than Lyft’s, says professor
5 years, 11 months ago

Uber’s valuation appraisal more complex than Lyft’s, says professor

Live Mint  

Uber Technologies Inc. isn’t exactly Lyft Inc., said Aswath Damodaran, a finance professor at New York University’s Stern School of Business, but the market will price them relative to each other. The two ride-sharing companies are making their debuts in the equity capital markets, with Lyft going public at the end of last month, and Uber filing its prospectus last …

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