Uber Technologies Inc (NYSE:UBER) shares are trading at $68.45, down 0.8% Friday afternoon, but have surged nearly 24% over the past week. The company on Tuesday reported better-than-expected second-quarter financial results.

What Happened With Earnings?

Uber reported strong fiscal second-quarter 2024 results, with revenue increasing by 16% year-over-year to $10.7 billion, surpassing analyst expectations. The company's GAAP EPS of 47 cents also exceeded the forecasted 31 cents, leading to a rise in its stock value.

In terms of segment performance, Mobility revenue grew by 25% to $6.13 billion, Delivery revenue increased by 8% to $3.29 billion, while Freight revenue remained flat at $1.27 billion. Gross Bookings saw a 19% increase, reaching $39.95 billion, driven by significant growth in the Mobility and Delivery segments.

Uber reported a 21% increase in trips to 2.8 billion, and Monthly Active Platform Consumers reached 156 million, marking a 14% year-over-year rise...Read More

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Is UBER A Good Stock To Buy?

When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.

Uber Technologies has reported average annual revenue growth of 35.54% over the past 5 years. .

It's also important to pay attention to valuation when deciding whether to buy a stock. Uber Technologies has a forward P/E ratio of 53.19. This means investors are paying $53.19 for each dollar of expected earnings in the future. The average forward P/E ratio of Uber Technologies's peers is 17.36.

Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out Benzinga PRO.

UBER has a 52-week high of $82.14 and a 52-week low of $40.09.