UBER - Uber Q4 expected to show continued growth in revenue as trip demand surges

Uber ( NYSE: UBER ) is scheduled to announce Q4 earnings results on Wednesday, February 8th, before market open.

The consensus EPS Estimate is $0.02 (vs. $0.44 last year) and the consensus Revenue Estimate is $8.51B (+47.2% Y/Y).

Over the last 3 months, EPS estimates have seen 1 upward revision and 0 downward. Revenue estimates have seen 9 upward revisions and 4 downward.

Shares of UBER in early Nov. 2022 climbed nearly 12% after the company's Q3 revenue surged more than 70% Y/Y.

The ride-sharing firm is expected to continue to show strong revenue growth in Q4, as demand for trips has remained high amidst a sustained fall in COVID-19 cases and driver supply has improved.

UBER is also expected to post a profit for Q4.

One of the major events for UBER in Q4 was its dispute over a potential rate hike with New York City's Taxi and Limousine Commission. The Commission in Nov. hiked metered fares, which investment firm Bernstein estimated could result in a roughly 10% increase in rider fares.

UBER subsequently sued the city over the fare hike, saying that if the proposal went into effect, the company would have to spend an additional $21M-$23M per month.

A court last month blocked the potential rate hike, sending shares of UBER and smaller rival Lyft ( LYFT ) higher.

In late Jan., Arete Research downgraded UBER, citing worries over the "earnings quality" of it and LYFT.

On Monday, Wedbush Securities said it expects UBER to report a "relatively bullish" Q4 report and guidance, citing an acceleration in ridesharing activity in Dec. 2022.

Read a recent analysis on UBER from Seeking Alpha contributor JR Research: Uber: Don't Get Fooled Again .

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