Is Palo Alto joining the M&A party? Plus, the S&P 500 hits an earnings bump
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Los Angeles Times
a minute ago
- Los Angeles Times
Uber's ride results disappoint even as bookings top estimates
Uber Technologies Inc.'s rideshare division missed Wall Street estimates, disappointing investors who were looking for signs of more robust demand in its signature business. Total gross bookings — a closely watched metric that includes ride hails, delivery orders and driver and merchant earnings but not tips — came in at $46.8 billion for the three months ended June 30, topping analysts' estimates. But that was mostly thanks to a strong showing from the company's food-delivery unit. Bookings for Uber's rideshare division — the business it remains best known for — fell short of Wall Street's projections, with $23.8 billion versus an average estimate of $23.9 billion. Investors responded by sending the stock down as much as 3.5% on Wednesday. It has been up 47% so far this year, outpacing the S&P 500 Index. The market reaction overshadowed a rosy third-quarter outlook. The bookings forecast for the current period represents an 18% to 21% growth rate, according to Bloomberg calculations, faster than the 17% gain Uber saw in the second quarter. Uber also announced new share buybacks of an additional $20 billion, reflecting its 'continued confidence in the business,' Chief Executive Officer Dara Khosrowshahi said in prepared remarks. The company still has $3 billion remaining from its prior authorization. Its results are likely to set expectations for the broader ride-hailing and food-delivery industries, as broader concerns remain about the health of the US consumer. Rideshare peer Lyft Inc. and delivery rival DoorDash Inc. are both scheduled to report results after the close on Wednesday. The delivery business, which fueled the strong second-quarter bookings, saw more users placing orders in the US, Australia, Canada and Mexico. Khosrowshahi also cited an uptick in grocery and retail merchants on the platform. The company completed its acquisition of Turkish delivery app Trendyol Go at the end of the second quarter, which will help boost business in the country, he added. On the rideshare side, Uber has been offering more types of trip types to cater to different user needs. While ride prices have been increasing less sharply as of late thanks to moderating insurance costs, the firm said its efforts to improve affordability in the US are also helping boost trip growth in the current period. In May, for example, it launched cheaper pooled rides and a monthly ride pass allowing commuters to lock in prices on frequently taken routes. Uber partially attributed the results to the cross-selling advantage it has for the two core services it offers. Khosrowshahi said that 12% of annualized delivery bookings — translating to $10 billion — are generated via the Eats tab within the Uber rideshare app. Subscribers for Uber One, the company's paid membership program, jumped about 60% from the year-earlier period, topping 36 million. Those members now generate 40% of total gross bookings. Internationally, Uber said it's 'redoubling' efforts to increase its presence outside large European cities, as well as in new markets through taxi partnerships. Competition is set to heat up in the continent after rival Lyft entered new European countries through its acquisition of the taxi app Freenow. For the current period, gross bookings will range from $48.25 billion to $49.75 billion, Uber said. Wall Street was projecting $47.6 billion, according to Bloomberg-compiled estimates. The outlook includes a small bump from the completion of the Trendyol Go purchase and some currency tailwinds. Adjusted earnings before interest, taxes, depreciation and amortization for the second-quarter were a record $2.12 billion, ahead of the $2.09 billion that analysts had forecast. For the third quarter, Uber sees adjusted Ebitda from $2.19 billion to $2.29 billion, the mid-point of which also beats estimates. The company is also looking to monetize more of its $8.7 billion equity stakes — most of which are publicly listed — to help seed investments related to the commercialization of autonomous vehicles, said Chief Financial Officer Prashanth Mahendra-Rajah in prepared remarks. During the earnings call, Khosrowshahi laid out a clearer vision of that strategy. So far, Uber has struck 20 autonomous partnerships across its ride-hailing, delivery and freight business, including offering Waymo robotaxis on its platform in Phoenix, Austin and Atlanta. It has also invested in fleet managers that handle daily maintenance and depot operations on the ground. Those efforts are still in an early stage, but Khosrowshahi said the company will be using the initial launches to assess how much revenue each robotaxi generates on a per-day basis, so it can secure more third-party financing to scale future autonomous fleets. 'We've talked to private equity players, we've talked to banks,' Khosrowshahi said. 'While it will take some time, we're very confident that these assets are going to be financeable. And for us, we believe it's a competitive advantage for us to be able to use a relatively modest part of our cash flow to fund kind of the catalyst getting started here.' Uber will potentially invest in real estate, facilities and vehicles in the autonomous ecosystem, as it's doing in its recently announced deal with Lucid Group Inc., Mahendra-Rajah added in the call. 'This is really to help us build our learning base and to build enough information for us to be able to engage more credibly with financing partners, having run these at scale ourselves, and then be able to bring them into the fold with real data on how they can earn a return in this space,' Mahendra-Rajah said. 'That has been a pretty consistent investment approach for Uber,' he added. 'We go into markets and go into products starting at a loss, we build scale, we build our experience, and then over time we know exactly the levers that are necessary to turn to get that profitability.' Lung writes for Bloomberg.
Business Insider
9 minutes ago
- Business Insider
After a 7% Dip Post-Q2, Let's Look at Who Owns Amazon Stock ($AMZN)
(AMZN) stock initially dropped more than 7% after its Q2 earnings report on August 1, though it has since recovered some of those losses. While the results beat Wall Street expectations, the stock slipped as concerns grew around slowing Amazon Web Services (AWS) growth and shrinking cloud margins. Still, shares remain up roughly 32% over the past year, supported by steady gains in retail and advertising. In Q2, Amazon reported a 13% year-over-year revenue increase to $167.7 billion, while earnings per share came in at $1.68, well above the $1.33 consensus estimate. With the stock back in focus, now is a good time to take a closer look at who owns Amazon shares. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Now, according to TipRanks' ownership page, public companies and individual investors own 48.36% of AMZN. They are followed by mutual funds, ETFs, insiders, and other institutional investors at 19.41%, 18.35%, 10.13%, and 0.24%, respectively. Digging Deeper into Amazon's Ownership Structure Looking closely at top shareholders, Jeffrey P. Bezos owns the highest stake in AMZN at 10.10%. Next up is Vanguard, which holds a 7.12% stake in the company. Among the top ETF holders, the Vanguard Total Stock Market ETF (VTI) owns a 2.89% stake in AMZN stock, followed by the Vanguard S&P 500 ETF (VOO), with a 2.53% stake. Moving to mutual funds, Vanguard Index Funds holds about 6.25% of Amazon. Meanwhile, Fidelity Concord Street Trust owns 1.55% of the company. Is Amazon Stock a Buy, Sell, or Hold? Overall, Wall Street has a Strong Buy consensus rating on Amazon stock based on 43 Buys versus one Hold recommendation. The average AMZN stock price target of $264.21 indicates 23.61% upside potential from current levels.
Business Upturn
21 minutes ago
- Business Upturn
Freeman Quantitative Trading (FQAI) 5.0 Concludes Strategic Selection in Europe
Seattle, WA , Aug. 06, 2025 (GLOBE NEWSWIRE) — Freeman Quantitative Trading (FQAI) 5.0 has successfully concluded its European strategic selection initiative, marking a major step in the platform's regional expansion and community-based development model. The process sets the foundation for deeper adoption of FQAI 5.0's AI-powered quantitative trading tools across key European markets. Spanning several months, the selection process invited participation from multiple strategy teams competing through live strategy testing, educational content, and investor community engagement. Thousands of users across Germany, France, the Netherlands, Switzerland, and beyond joined the event, highlighting growing interest in AI-managed investment platforms. This initiative was designed not only to identify local strategic direction but also to promote inclusive investor education. Through open teaching, real-time interaction, and collaborative testing, users gained practical exposure to algorithmic investing and quantitative logic—lowering the barrier to entry for individuals new to the field. Freeman Quantitative Trading emphasized that FQAI 5.0 is more than a tool—it is a scalable ecosystem. The system combines AI modeling, big data analytics, and dynamic risk control, delivering institutional-grade capabilities through fully automated workflows. With the support of regional strategy teams selected through this initiative, the platform aims to localize deployment, enhance user experience, and tailor features to the unique needs of European investors. The strategic framework now in place will guide the implementation of educational initiatives, community-driven updates, and region-specific AI strategy modules. Upcoming releases include AI-managed trading, smart stop-loss/take-profit tools, and customizable strategy switching options—all designed to improve user control, transparency, and long-term portfolio performance. Marcus Ellington, Director of Strategic Development at Freeman Quantitative Trading, stated: 'This program reflects our vision to bridge advanced AI with inclusive financial services. Europe is a key part of our global roadmap, and we are committed to building a localized, transparent, and collaborative investing environment.' As AI continues to reshape global finance, Freeman Quantitative Trading (FQAI) 5.0 is positioned to lead the way in combining automation, risk intelligence, and investor education. The success of this strategic initiative confirms the demand for accessible, intelligent tools that empower users to navigate complex markets with confidence. About Freeman Quantitative Trading: Freeman Quantitative Trading is a leading European fintech platform specializing in AI-powered quantitative investment solutions. Its flagship system, FQAI 5.0, integrates nine core trading strategies—including trend-following, statistical arbitrage, and sentiment-driven models—into an automated, user-friendly platform. With a mission to democratize intelligent finance, Freeman combines advanced technology with investor education to make data-driven trading accessible to all. Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
