Uber Makes a Profit

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.3 • 3.1K Ratings

🗓️ 1 August 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

For the first time ever, Uber reported an operating profit. Staying in the green is a different story. (00:21) Ricky Mulvey and Bill Mann discuss: - Uber’s long-term vision. - If the ride hailing app deserves a victory lap. - A mortgage REIT paying investors a 14% dividend. - Overstock’s “brilliant” rebrand to Bed, Bath, and Beyond. Plus, (15:15) Robert Brokamp and Megan Brinsfield discuss common tax myths for digital nomads. Stocks discussed: UBER, LYFT, ARI, OSTK Click here for the latest Stock Advisor Roundtable episode! Host: Ricky Mulvey Guests: Bill Mann, Robert Brokamp, Megan Brinsfield Engineers: Dan Boyd, Rick Engdahl, Tim Sparks Disclosure: Motley Fool Wealth Management (“MFWM”) is an SEC registered investment adviser. MFWM, an affiliate of The Motley Fool LLC (“TMF”) is a separate legal entity, and all financial planning and discretionary asset management services for our clients are made independently by the financial planners and asset managers at MFWM. No TMF analysts are involved in the investment decision making or daily operations of MFWM. MFWM does not attempt to track any TMF services. Megan Brinsfield is the Director of Financial Planning at MFWM. The comments and ideas presented by the speaker in this podcast are solely those of the speaker and do not necessarily represent those of MFWM or any of its affiliates. This discussion is for informational purposes only and should not be construed as investment or financial planning advice or recommendations. Certain statements may be deemed forward-looking, however there is not guarantee of any outcome. Past performance does not guarantee future results. MFWM encourages you to seek personalized advice from qualified professionals, including (without limitation) tax professionals, regarding all personal finance issues. While we can counsel on tax efficiency and general tax considerations, MFWM does not (and is not permitted to) provide tax or legal advice. This discussion should not be relied upon as personalized financial planning or tax advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Did you ever think that Uber could make a profit?
0:07.7	The CEO has a message for the doubters.
0:09.9	You're listening to Motley Fool Money.
0:11.6	I'm Ricky Mulvey, joined today by Bill Mann, Bill, good to see you.
0:24.4	Hey, Ricky, how you doing, man?
0:26.8	I'm doing pretty well, thanks for asking.
0:29.5	So the big news today, the Aheadline Uber reported its first ever operating profit.
0:35.2	The ride hailing company made about $400 million in the quarter.
0:39.0	That beat analyst expectations and is up from a $2.6 billion loss in the year prior.
0:45.0	CEO Derek Hashra Shahi took what I would call a mic drop on the earnings call for hitting
0:49.7	that green operating profit, also $1 billion in free cash flow.
0:54.6	Does Uber deserve to give itself a nice little pat on the back?
0:58.8	I think because they have crossed the line from being negative and losing money into operating
1:06.3	profitability, yes, they have proven to the most negative doubters that Uber is probably
1:14.9	a business that can sustain itself without continually going back to the public markets.
1:21.6	And so this quarter was a surprise and obviously the market has is rewarding it as a surprise.
1:29.4	I'm not convinced it was as great as all that, though I was someone who during the COVID period
1:37.0	was mystified that a company in Uber's business was not yet able to make a profit.
1:43.0	But yes, so they've done it.
1:45.4	It's great, not 100% sure that this is the mic drop situation that the CEO is suggesting it is.
1:56.1	Yes, the quote from the earnings call from Hashra Shahi is quote,
1:59.4	many observers over the years boldly claimed that we would never make any money.
	...

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