uber investor day presentation

Uber to Host Investor Day in February 2022

Announces Date of Fourth Quarter 2021 Results Conference Call

SAN FRANCISCO--( BUSINESS WIRE )--Uber Technologies, Inc. (NYSE: UBER) will hold its quarterly conference call to discuss its fourth quarter and full-year 2021 financial results on Wednesday, February 9, 2022, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).

The following day on February 10, 2022, Uber will host an Investor Day with financial analysts and institutional investors, starting at 8 a.m. Pacific Time, from its San Francisco headquarters. Uber’s executive leadership team will present an updated view of the company’s long-term strategy and capital allocation plans, followed by a live Q&A.

A live webcast of the earnings conference call and Investor Day, along with the earnings release and Investor Day materials will be available on Uber’s Investor Relations website at investor.uber.com . A replay of the conference call and Investor Day presentation will be accessible for at least 90 days.

Disclosure Information

Uber uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the company’s Investor Relations website, in addition to following the company’s press releases, SEC filings, public conference calls, presentations, and webcasts.

Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 25 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

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Uber Shares Turn Lower Following Investor Day Presentation: Why This Investor Liked What He Heard

Uber Technologies Inc UBER shares surged higher Thursday morning after the company announced strong quarterly results, but the stock was halted and turned negative following announcements at Uber's investor day presentation.

What Happened: "I think what happened was they gave us projections for 2024 ... and I think what investors are probably saying is how fast is that going to happen," Douglas C. Lane & Associates'  Sarat Sethi  said Thursday on CNBC, reporting live from Uber's investor presentation.

Uber turned a profit for the first time as a public company in the fourth quarter. The company provided EBITDA projections of $5 billion for 2024, according to Sethi. "Now it's a show-me story," he said.

See Also:  Dan Ives Says Uber's Q4 Results Were Better Than Feared

"They laid out a really good plan." Uber is leveraging its technology and offering products for mobility and delivery, he said, adding that 46% of the company's users use both.

The company is also focused on expanding Uber Freight and Uber for business, he said. 

What's Next: "Their big issue is the supply, it's really not the demand, so I think as we come out of COVID, I like the stock," Sethi told CNBC. 

He expects Uber to reward shareholders with a couple good quarters of execution after hearing management's detailed plan for the future. 

"With what they have laid out in terms of operational leverage and a total addressable market, I think this is one that I want to stick with for the long term," Sethi said.

UBER Price Action: Uber has traded as low as $32.81 and as high as $64.05 over a 52-week period.

The stock was down 4.6% at $38.33 Thursday afternoon. 

Photo: courtesy of Uber.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Uber says it's on track to build a $1 billion advertising business and that in-car ads will make your rides cheaper

• Uber said it's on track to reach $1 billion in ad revenue by 2024.
• It's rolling out a new format called Journey Ads that users will see in the app on their trip.
• Uber Advertising General Manager Mark Grether said ads should maker users' trips cheaper.

Uber's advertising business is making investments in new ad formats and an international salesforce as it races toward a $1 billion annual revenue target that it hopes to reach by 2024.

This week, the ride-hailing company is expanding the rollout of what it's calling Journey Ads, which appear in the app throughout the user's entire trip.

Charged on a cost-per-trip basis, Journey Ads will be exclusive to a single advertiser, who can display multiple messages between the user requesting a driver and arriving at their destination. Uber declined to disclose the average cost of these ads, saying the fee will depend on the type of user the advertiser is targeting and their location.

Uber now offers an array of ad formats throughout the Uber and Uber Eats apps, and also on emails, cartops, and in-car tablets. The retail ads on Uber Eats can be bought via a self-service platform; Uber app ads are currently sold directly to advertisers by its sales team, though Uber eventually plans to make those ads purchasable through automation. 

Uber Ads General Manager Mark Grether said the addition of ads would ultimately make rides cheaper for consumers, though he declined to say by how much.

"By helping us to lower the cost for trips we can attract more riders, which will obviously attract more earnings to the platform, and with that the flywheel is spinning faster," Grether told Insider.

Grether, formerly an executive at Amazon Advertising through its acquisition of the adtech company Sizmek where he had served as CEO, joined Uber last summer to lead its ads division . The unit currently comprises more than 100 people and it is now actively recruiting in international countries such as Australia, Brazil, France, Mexico, and the UK.

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Uber has joined a spree of app-based companies — from Netflix , to Disney+ , to Drizly , and Lyft — to enter the advertising market over the past year, as businesses look to unlock a source of additional, high-margin revenue.

At Uber's February investor day this year, Grether outlined how the company aims to reach $1 billion in revenue by 2024, up from $141 million in 2021 . Advertisers on the platform so far have included Heineken, Shake Shack, and NBCUniversal. Uber's advertisers almost doubled to 230,000 in the second quarter of 2022 compared to the prior year, the company said in its most recent earnings report.

Grether told Insider the company remains "on good track" to reach its $1 billion-plus revenue target by 2024. He said marketers have been impressed by Uber Ads average click-through rate, which he said is 3% — above the industry average of around 0.35% for display ads . The platform also has a significant audience of more than 122 million monthly active users who took 1.87 billion trips in the second quarter this year.

Grether said he sees an opportunity to build a "mobility media" advertising category that will grow significantly as self-driving cars become more mainstream.

"As cars become our living rooms, what we're doing here is creating an entire new category where in the future we'll be consuming a lot of content as well as highly engaging and locally relevant advertisements," Grether said.

Ana Milicevic, principal at digital technology consultancy Sparrow Advisers, said Uber's proposition will draw interest from advertisers thanks to the custom ad formats and ability to combine reliable and accurate location data with other personalized user targeting. 

"Therein lies the rub: Consumers might not appreciate good advertising as much as a direct offer or a ride discount, and that changes the math for advertisers and platforms alike," Milicevic said.

"Some of us don't necessarily want to go on a journey each time we're buying toothpaste," she added.

Watch: WATCH: How advertisers can navigate the death of third-party cookies, according to execs from Mars Petcare, R/GA, The Washington Post, and The Trade Desk

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