“This Looks Bad. Look Over Here.”

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The Motley Fool

Investing, Business

4.3 • 3.1K Ratings

🗓️ 8 May 2024

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Uber’s earnings may seem a little hand-wavy, but there's more to the story. At (00:12) Tim Beyers and Mary Long take a look at earnings from Uber and Toast. Then, (16:34) Alicia Alfiere and Ricky Mulvey ask if AI will kill Chegg, the homework helper. Tickers discussed: UBER, SICP, JOBY, TOST Host: Mary Long Guests: Tim Beyers, Alicia Alfiere, Ricky Mulvey Engineer: Tim Sparks Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Uber hits a speed bump. You're listening to Motley Full Money.
0:08.0	I'm Mary Long joined live from Colorado in our podcast studio today with the one
0:17.2	the only the fully caffeinated ready to go coffee mug in hand Tim Byers.
0:22.1	Hi Mary good to have you here Tim coffee mug in hand Tim Byers.
0:23.0	Hi Mary.
0:24.0	Good to have you here, Tim.
0:25.0	We're talking Uber today.
0:26.0	They reported earnings this morning.
0:28.0	Yep.
0:29.0	Going in, analysts kind of seem to think that Uber was on a smooth ride.
0:32.0	They anticipated quarterly net income of over
0:34.4	450 million.
0:36.0	Instead, Uber goes out and posts a loss for the quarter.
0:40.0	CEO, Dara Kosh Roshahi, has been cutting costs, cutting jobs, cutting driver bonuses.
0:44.9	So what went wrong?
0:45.9	What happened?
0:46.9	Well, they had an equity loss.
0:48.7	And what this means, it was an unrealized net equity loss, so they have a bunch of investments Uber has put a lot of money
0:55.7	into a lot of different companies and some of those companies have not done so well Mary and
1:00.0	because of that they recorded a 721 million dollar unrealized net equity loss and so that
1:08.6	shows up that's an accounting treatment so they're revaluing, that shows up on the income statement.
1:14.2	It takes what was a profit to a loss.
	...

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