Bradley Tusk, an early investor in Uber Technologies and its first political strategist, believes current management lacks the innovative and intense vision of founder Travis Kalanick and that Uber stock will remain in the dumps as long as that remains the case. No Confidence in Management Bradley Tusk says the reason that Uber stock is in the doldrums is that there is not any confidence in...
Mega-unicorn Uber reported earnings, or rather losses, on Thursday that demonstrate why hype doesn’t always work in a company’s favor. Let’s hit the headline numbers and explain what they mean for Uber's stock. Solid Growth Across the Board Just like its rival, Lyft, Uber saw a significant increase in gross bookings. That metric was up 31% to $15.76 billion. That was compared to just $12 billion...
Lyft Chief Financial Officer Brian Roberts claims that losses the company suffered in 2018 were very likely the “peak” with better times around the corner. On a call with investors, Roberts said that an increase in revenue per rider was behind Q2 earnings completely smashing Wall Street expectations. Third-quarter sales, as well as full-year sales, look set to rise above Wall Street estimates...
It was hard not to feel compassion for Libra chief David Marcus, watching him deal with angry questioning in Congress two weeks ago. The level of distrust in Facebook has reached new highs - some of the Congressmen and Senators replaced questions with blunt criticism aimed at Marcus and the big blue company. Even Marcus, it felt, must have been surprised by the sheer cacophony of fear...
Survey and research powerhouse J.D. Power released the results of its Power Mobility Confidence Index, and the news was terrible for self-driving and electric vehicles. That, in turn, means bad news for Tesla, Uber, Lyft and other electric car manufacturers. Nobody Wants Skynet Behind Their Wheel In short, the J.D. Power survey found that consumers trust auto-driving cars as much as they trust...
Lyft’s Chief Operating Officer, Jon McNeill, is leaving the company after only 18 months on the job. Lyft stock slid 2.27% on the news. 3 Possible Reasons Why the COO Flew the Coop For senior management to depart a position as necessary as operations after only 18 months, there are usually only three possible explanations. The first explanation is that Jon McNeill took the company as far as he...
Netflix stock plummeted 11% out of the gate despite posting better-than-expected earnings in Q2. The reason? A colossal miss in subscriber growth, the lifeblood of the debt-ridden media giant. Now that Wall Street appears to be waking up to overvaluations, here are three tech stock bubbles – Beyond Meat, Uber, and Tesla – that might be next. 1. Beyond Meat: To Infinity and Beyond? While you might...
In a move that will surely raise a few eyebrows, rideshare behemoth Uber is bolstering its helicopter service. This month, those with the means will be able to hail an Uber helicopter to go from Manhattan to JFK in under 10 minutes. Starting this month, Uber is offering helicopter rides in New York City pic.twitter.com/lju3K3WxqC — Bloomberg TicToc (@tictoc) July 4, 2019 Uber Expands Risky...