UBER - Uber CEO: We feel tailwinds looking to 2023 as consumer remains strong

Uber CEO Dara Khosrowshahi offered an upbeat assessment of the current economy in the wake of the ride-hailing and delivery company's Q3 earnings report, which showed better-than-expected revenue growth and included a strong forecast for the current quarter.

Speaking to CNBC on Tuesday, the head of Uber ( NYSE: UBER ) said the consumer "remains strong," giving the company momentum headed into 2023.

"When we look at our own business, we feel tailwinds," he said.

The Uber CEO pointed to ongoing expansion in its core ride-hailing business and "sticky" growth in its delivery operations as the key reasons for his optimism.

Even with the robust signals for the near future, Khosrowshahi said the company is approaching 2023 with caution, given the widespread concerns that rising interest rates and stubborn inflation could lead to a recession next year.

"We are operating on a cautious basis even though if the world were just an Uber world, we'd be celebrating because business is incredibly strong and the outlook for Uber itself is strong," he said.

Khosrowshahi's comments followed the release of a well-received earnings report, which sent the stock soaring nearly 14% in Tuesday's early trading.

The company issued a mixed report on its headline figures, with an EPS loss that was wider than analysts had expected. However, revenue easily sailed past expectations , jumping 72% from last year to reach $8.34B. The company also reported adjusted EBITDA of $516M, up from only $8M last year.

UBER fell early in 2022, reaching a 52-week low of $19.94 during the summer. However, the stock surged in early August when it released its last earnings report , which similarly showed better-than-expected revenue growth and promising internals.

Even with Tuesday's rally, UBER remains off levels reached in the wake of its August report. The stock climbed to $30.96 in Tuesday's early trading, off a multi-month closing high of $33.13 reached in mid-September.

Meanwhile, shares remain well off a 52-week high of $48.74 set last November. UBER reached levels above $60 in early 2021.

Overall, UBER had dropped about 30% in 2022 headed into Tuesday's earnings report. While this underperformed the overall market ( SPY ) ( SP500 ), it came in well above its biggest competitors. Lyft ( LYFT ) had dropped 64% in 2022 as of Monday's close. Doordash ( DASH ) had fallen about 69%.

LYFT and DASH received a boost from UBER's results on Tuesday, climbing 8% and 3% in early trading, respectively.

Ahead of the earnings announcement, Seeking Alpha contributor Gary Alexander predicted that shares could see a boost, arguing that "the stock and strong fundamentals are misaligned."

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