Money

Uber revenue soars in first quarter

Published

1 year ago

May 3, 2023

ticker NEWS

Ride-share company Uber records a massive jump in revenue as drivers return and bookings soar

Uber has rocketed into the year.

The ride-share company’s revenue grew 29 per cent in the first quarter, as drivers return and bookings soar.

Uber recorded $8.8 billion in revenue, roughly in line with investor expectations.

The company had $31.4 billion in gross bookings — which is the amount of money paid by customers — a 19 per cent jump from a year ago.

Uber says it is on track to generate a quarterly profit from the strength of its business operations sometime this year — continuing on the road to overall profitability.

“With our global scale and deeper local density, we are increasingly separating from smaller regional competitors both on driver preference and on the breadth of mobility products we offer consumers,” Dara Khosrowshahi, Uber’s chief executive, said in a statement.

Shares of Uber ended the day nearly 12 percent higher, with the company reporting several other figures that beat investor expectations.

Money

Why the meme-stock frenzy is unlikely to repeat

Published

4 hours ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

8 hours ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

1 day ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending