Bank of America analyzes Uber's outlook amid AV pipeline and Lyft competition
What happened
Bank of America is analyzing Uber's third-quarter results, noting that the company's autonomous vehicle supply pipeline is a major factor shaping market sentiment. The bank projects Uber's third-quarter gross bookings will reach $59.8 billion, representing 21% year-on-year growth. The bank expects Uber’s adjusted EBITDA for the third quarter to total $2.94 billion.
Why it matters
The analysis indicates that while cost-saving measures could support earnings, higher petrol prices might increase driver costs and put pressure on margins. The bank suggests Uber's valuation has room to expand if progress is made on autonomous vehicles.
Who's involved
- Bank of AmericaProvides financial research and market forecasts on the ride-hailing sector.
- UberIs the subject of the financial analysis regarding its autonomous vehicle pipeline and earnings.
- LyftIs a direct competitor to Uber in the ride-sharing and autonomous vehicle markets.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
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