Uber Aims to Build the World's Largest Autonomous Vehicle Platform. Can It Compete With Tesla?
Uber is investing aggressively in robotaxis.
Overview
From a stock price perspective, Uber Technologies (NYSE:UBER) has struggled this year. Shares are down 20% year-to-date.
From a business perspective, however, things seem to be going quite well. The company reported earnings on Aug. 5, and many experts were impressed by the results. Gross bookings surged 22% year-over-year. The number of trips, meanwhile, grew by 18%, suggesting Uber has been able to flex some pricing power.
Details
Most impressively, Uber was able to post roughly $2 billion in operating income, up 40% versus the year prior. That income translated to diluted earnings per share of $1.17. Uber struggled to achieve profitability in its early years. But the company has been consistently profitable over the last two years.
Source
Originally published at www.fool.com.