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UBER stock: Better Than You Think

Uber Technologies Inc. (NYSE: UBER) is well on its way to recovering from the challenging time of COVID-19. Passenger traffic is once again robust, and the airline is adding additional destinations to offer more variety.

Uber Technologies’ gross orders increased 35% year on year to $26.4 billion in the first quarter. Revenue increased by 136 percent to $6.85 billion throughout the time. Year on year, the gross margin increased by 137 percent.

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During the pandemic, Uber Technologies expanded into other business lines, particularly delivery, which proved to be more in demand than passenger transportation. Last quarter, shipping generated $13.9 billion in gross orders, a 12% increase over the previous year.

Uber Freight, a subsidiary that helps truck drivers and shippers find each other more effectively, is Uber Technologies’ third emphasis. This business received $1.8 billion in gross orders, a significant rise from $302 million in the same period last year. This company’s expansion was fueled by the acquisition of Transplace, a logistics technology startup. Indeed, the merging of Uber Freight and Transplace has the potential to make the division one of the world’s major digital carriers.

Uber Technologies has made great progress in boosting free cash flow over the last few quarters. The corporation was spending more than $4 billion in cash every year at the start of 2020, but this amount is currently only $108 million. This pattern is expected to persist. However, Uber Technologies is unable to generate a consistent profit.

In the first quarter, the company reported a net loss of $5.9 billion. This was attributed mostly to investment losses, although even without them, the operational loss was $482 million. The absence of profitability from a corporation on the scale of Uber Technologies drives investors to respond negatively. Simultaneously, the company’s growth and expansion into potential areas such as shipping and logistics continue.

UBER’s performance over the last year has been -43.40 percent, and it has been up 5.35 percent in the previous week. The stock price index is up 20.23 percent in one month and down -21.86 percent in three months. In the last six months, it has returned -30.13 percent.

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