Investors lifted Lyft yesterday. Will they do the same with Uber Technologies which is expected to report earnings on Thursday after market close. The report will be for the fiscal Quarter ending June 2019. The consensus EPS forecast for the quarter is $-3,30.
The New York City Taxi and Limousine Commission votes to extend the cap on the number of permitted Uber drivers in the city for an additional 12 months. Earlier this year, NYC enacted minimum wage rules for ride-hail drivers.
Uber thinks it`s unlikely to receive a five-year license to operate in London, but the ride-hail company expects Transport for London to award a another fifteen-month, short-term license.
Amazon India is interested in entering the food delivery business so that it can add it to the list of services it provides and Amazon is in early stage talks to acquire Uber Eats India, according to Business Standard.
Deliveroo which is backed by Uber and Amazon are planning to acquire the Spanish food delivery startup Glovo. The company was last valued at $950 million and they are planning to go public in 2020.
GrubHub and Just Eat are planning to compete with Uber Eats and Amazon-backed Deliveroo, and they`re in the early stages of a $10 billion merger.
Street consensus calls for revenue of $3,3 billion which is up from Uber`s first-quarter revenue of $3,1 billion with an adjusted Ebitda loss of $869 million. Some investors are worried by Uber`s competiton in the global market and they are concerned about the ability to ever reach profitability.