Nov 4, 2019

Uber stock falls despite earnings beating analyst expectations

Photo: Justin Sullivan/Getty Images

Uber saw its stock drop by more than 5% despite beating analyst expectations of its revenue and losses for the third quarter.

Why it matters: Uber, as well as rival Lyft, still faces the difficult challenge of convincing investors that it will eventually make a profit. While its business grew, the company's losses for the quarter ($1.16 billion) also increased compared to the same quarter a year ago.

By the numbers (analyst estimates from Refinitiv):

  • Loss per share: $0.68, compared to $0.81 expected by analysts.
  • Revenue: $3.81 billion, compared to $3.69 billion expected by analysts.

Meanwhile, Lyft received a warmer response last week when it posted quarterly results and an improved outlook for its business.

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A Teflon earnings season

Illustration: Sarah Grillo/Axios

With Q3 earnings season nearly over, investors are applauding, even cheering companies that fall short of expectations or signal next quarter won't be as rosy as previously thought.

Why it matters: Investors' renewed optimism that's pushed stock prices to all-time highs is giving businesses more leeway than in the past.

Go deeperArrowNov 19, 2019

WeWork reports $1.25 billion net loss for Q3

Illustration: Sarah Grillo/Axios

WeWork reported a $1.25 billion net loss for the third quarter during a call on Wednesday with the embattled company's bondholders, more than doubling its year-earlier number.

Why it matters: These results represent WeWork's final quarter under the leadership of Adam Neumann, who was ousted after a failed IPO.

Go deeperArrowNov 13, 2019

Equity and M&A deals plummet in tough Q3

Adapted from S&P Global; Chart: Axios Visuals

U.S. and global dealmaking slowed significantly in the third quarter, with equity and merger and acquisition announcements "plummeting" year over year and quarter over quarter, according to the latest data from S&P Global Market Intelligence.

By the numbers: The global total value raised from equity deals fell 37.1% quarter over quarter and 29.4% year over year to $91.85 billion.

Go deeperArrowNov 7, 2019