Shares of Uber rose Thursday after Lyft reported strong second-quarter earnings a day earlier.
Analysts watching Uber are hopeful that it will also release a strong second-quarter earnings report Thursday. The company didn’t provide any guidance for Q2 in its first-quarter results.
Investors will also be watching for signs that Uber has gained market share in ridesharing and food delivery.
Watch Uber trade live on Markets Insider.
Uber is getting a boost from Lyft.
Shares of Uber rose as much as 7% in early trading Thursday after Lyft’s second-quarter earnings beat expectations a day earlier. Uber is set to report its own results after Thursday’s close.
Here’s what analysts surveyed by Bloomberg expect Uber to report:
Revenue: $3.06 billion
Loss per share: -$3.261 per share
Uber didn’t provide a full-year outlook in the first quarter. Investors will be watching its results for signs of changes to its market share in both ridesharing and food delivery. Analysts at Bank of America Merrill Lynch say that data suggests Uber may have gained rideshare over Lyft but lost in food delivery to competitors such as GrubHub and DoorDash.
Lyft and Uber have been locked in competition as the two most dominant players in …read more
Source:: Businessinsider – Technology