Uber, a ride-hailing platform company in the United States, got rid of post-epidemic losses and announced the implementation of treasury stocks, which is expected to invest up to $7 billion to be incentivized by profits, and its stock price soared to a record high on the 14th.
Reuters reported that Uber's share price performance was bleak due to the sharp decline in orders for ride-hailing business due to the impact of the new crown epidemic. As people went out post-pandemic and many companies asked employees to return to the office, demand for ride-hailing rebounded significantly, driving Uber's market value to more than double last year.
Uber issued a press release on the 14th, pointing out that people's consumption patterns have shifted from goods to services, getting rid of consecutive years of losses, and the financial report shows that in the fourth quarter of 2023, the revenue of the largest operating segment mobility (mobility) exploded by 34%, and the revenue of delivery (delivery) also increased by 6%, which exceeded analysts' expectations, and also achieved the first annual profit since its listing in 2019, and was selected as a constituent stock of the S&P 500 index.
In view of the strong recovery of the revenue of the ride-sharing business and the steady demand for food delivery, Uber announced that it would implement treasury shares for the first time in history and plan to repurchase $7 billion of its own **, which stimulated the company's stock price to rise more than 14% on Wednesday (14th) and closed up 1473 to 79$15, the largest gainer among S&P 500 constituents, has extended its year-to-date gains to 2855%。
In this regard, AJ Bell investment analyst Dan Coatsworth said that the company is no longer a technology start-up that burns money and loses, and is expected to usher in the first dividend distribution in the future as the operation gradually improves.
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