Shares of Uber (NYSE: UBER) are rising in the pre-market trading today after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $0.29, which beat analysts’ consensus estimate by $0.44 per share.
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Sales increased by 48.8% year-over-year to $8.6 billion. The figure came in ahead of expectations by $90 million. During the quarter, gross bookings increased by 19% and the company clocked 23 million trips per day on average during this period.
Looking forward, management now expects first-quarter gross bookings to hover between $31 billion and $32 billion. Adjusted EBITDA is seen landing between $660 million and $700 million.
Overall, analysts are upbeat about UBER stock with a Strong Buy consensus rating based on 11 Buys.