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that UBER () will one day be a $1 trillion company. Today I want to reiterate that call in wake of their 3Q24 earnings report out this morning which has caused the shares to decline 6% in the premarket.The report was excellent but perhaps Wall Street took issue with Gross Billings of $41.0 billion which were only +16% compared to a year ago and right smack in the middle of UBER’s guidance for the quarter three months ago. For me, it’s an opportunity to reacquire the shares I sold a few weeks ago when the stock surged in response to Tesla’s unimpressive robotaxi event.As far as I’m concerned, everything continues to suggest that UBER is firing on all cylinders. Revenue +20%, Adjusted EBITDA $1.69 billion (an all time high), Free Cash Flow $2.1 billion (an all time high), GAAP Operating Income over $1 billion for the first time. 4Q24 guidance was similarly stellar calling for Bookings of $42.75-$44.25 billion, Adjusted EBITDA of $1.78-$1.88 billion – both all time highs.To get to $1 trillion UBER shares would have to reach $464.16 from a close yesterday of $79.43. It’s not going to happen overnight but I believe patient investors will see it happen in the next decade.Let Wall Street quibble with the quarter. It just provides an opportunity for investors with a longer term perspective to pick up shares in this juggernaut.More By This Author:
Reiterating Uber $1 Trillion
