DIRS.INFO The most relevant business & tech news

☆ Davos draws record crowds, but its relevance is fading
▼ + stars: | 2023-01-16 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year. A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023. Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October. Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak. That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.

As the cost of signing up new customers rises, “lifetime value” is set to become must-use jargon for technology executives, investors and analysts in 2023. The concept of lifetime value is not new, but a common definition remains elusive. The problem is that everyone seems to have a different definition of lifetime value. But lifetime value isn’t a silver bullet, as Gurley noted a decade ago. As with previous buzzwords, investors may find that references to lifetime value do more to confound than clarify.

TORONTO, Nov 11 (Reuters Breakingviews) - Some members of the shared economy are seeing a resurgence in the side hustle as inflation bites. People are becoming more interested in driving for Uber Technologies (UBER.N) and listing their abodes on Airbnb (ABNB.O) in order to make an extra buck. U.S. President Joe Biden last month proposed a new gig worker rule that could fundamentally change how companies classify their workers. But the shared economy seems to be holding up fine, even if the economy isn’t. Uber Technologies on Nov. 1 said revenue grew 72% year-on-year to $8.3 billion in the third quarter.

☆ Is it now time to buy Uber shares? Two market players give their take
▼ + stars: | 2022-11-03 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

With such a mixed picture, should investors buy the dip on Uber, or should they continue to stay on the sidelines? But for those who are looking for growth and future profit assets — which is a very tough thing to do in this market — there's Uber. While Uber's growth potential is undeniable, investors have long been skeptical about its ability to do so profitably. The company will generate about $4 billion in free cash flow in 2024 and $5 billion in 2025, he estimates. It's popping on free cash flow.

☆ Uber whistleblower says current business model 'absolutely' unsustainable
▼ + stars: | 2022-11-02 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

REUTERS/Pedro NunesLISBON, Nov 2 (Reuters) - Mark MacGann, the whistleblower behind the so-called Uber Files, said on Wednesday that the ride-hailing company seemed to be taking steps toward improving its work culture but that its business model was still "absolutely" unsustainable. MacGann said Uber's current CEO, Dara Khosrowshahi, and his executive team "have done a lot of good things, but they have so, so far to go." "My message to Uber is: 'you've done well, (but) you can do it so much better (because) the current model is absolutely not sustainable,'" MacGann told a news conference during Europe's largest tech conference, the Web Summit, in Lisbon. He said Uber recently reiterated that the "core of its business model is independent contractors, since everybody wants to be self-employed, everybody wants flexibility." "Uber is pumping tens of millions of dollars in Europe, United States, other parts of the world fighting legislation," he said.

☆ Uber shares surge on solid profit forecast as rideshare recovery defies inflation
▼ + stars: | 2022-11-01 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

Nov 1 (Reuters) - Uber Technologies Inc (UBER.N) on Tuesday forecast fourth-quarter operating profit above Wall Street estimates, betting on cost controls and rising demand for its rides as customers resume spending more on travel, sending its shares up 13%. The logo for Uber Technologies is seen on a vehicle in Manhattan, New York City, New York, U.S., November 17, 2021. REUTERS/Andrew KellyThe company forecast fourth-quarter adjusted EBITDA, a profitability metric keenly watched by investors, between $600 million and $630 million. Revenue rose 72% to $8.34 billion and adjusted profit was $516 million, both beating estimates. Shares of peers Lyft Inc (LYFT.O) and DoorDash Inc (DASH.N), which are yet to report results, were also trading higher.

☆ Uber share surge on solid profit forecast as rideshare recovery defies inflation
▼ + stars: | 2022-11-01 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

Monthly active users on Uber's apps rose 14%, exceeding the levels seen in September 2019, helped by airport trips, while revenue from the rideshare segment rose 73% in the third quarter. The company forecast fourth-quarter adjusted EBITDA, a profitability metric keenly watched by investors, between $600 million and $630 million. Reuters Graphics"It is just more confirmation that this can be a very profitable business," Fox Advisors CEO Steven Fox said. Revenue rose 72% to $8.34 billion and adjusted profit was $516 million, both beating estimates. Shares of peers Lyft Inc (LYFT.O) and DoorDash Inc (DASH.N), which will report results later this month, also surged 9% and 4%, respectively.

☆ Uber shares surge as rideshare recovery powers operating profit forecast
▼ + stars: | 2022-11-01 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

Nov 1 (Reuters) - Uber Technologies Inc (UBER.N) on Tuesday forecast fourth-quarter operating profit above Wall Street estimates, betting on cost controls and rising demand for its rides as customers resume spending more on travel, sending its shares up 10%. "It is just more confirmation that this can be a very profitable business," Fox Advisors CEO Steven Fox said, highlighting Uber's goal of $5 billion in operating profit by fiscal 2024. The company forecast fourth-quarter adjusted EBITDA, a profitability metric keenly watched by investors, between $600 million and $630 million. Revenue rose 72% to $8.34 billion and adjusted profit was $516 million, both beating estimates. Shares of peers Lyft Inc (LYFT.O) and DoorDash Inc (DASH.N), which are scheduled to report results later this month, were up about 5%.

☆ Watch CNBC's full interview with Uber CEO Dara Khosrowshahi
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Uber CEO Dara KhosrowshahiUber CEO Dara Khosrowshahi joins CNBC's 'Squawk Box' to break down the company's latest quarterly earnings report and what it means for the health of the U.S. consumer. Khosrowshahi also weighs in on how higher gas prices are affecting the business; Elon Musk's Twitter takeover; efforts to categorize gig workers as employees and more. "If the world were just an Uber world, we'd be celebrating because the business is incredibly strong and the outlook for Uber is strong," Khosrowshahi tells CNBC.

☆ Uber CEO Dara Khosrowshahi: We are operating on a cautious basis, but our outlook is strong
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUber CEO Dara Khosrowshahi: We are operating on a cautious basis, but our outlook is strongUber CEO Dara Khosrowshahi joins CNBC's 'Squawk Box' to break down the company's latest quarterly earnings report and what it means for the health of the U.S. consumer.

☆ Uber reports another loss but beats on revenue and the stock is up
▼ + stars: | 2022-11-01 | by ( Ashley Capoot | ) www.cnbc.com time to read: +4 min

Uber reported a third-quarter loss Tuesday but beat analysts' estimates for revenue and showed a surge in bookings. He said October is tracking to be the company's "best month ever for both Mobility and total company Gross bookings." Here's how Uber's largest business segments performed in the quarter:Mobility (gross bookings): $13.7 billion, short of analysts' estimates of $13.83 billion according to StreetAccount. Delivery (gross bookings): $13.7 billion, short of analysts' estimates of $14.01 billion according to StreetAccount. That trend continued during the third quarter, as Uber's mobility segment reported $3.8 billion in revenue while delivery reported $2.8 billion.

☆ Uber salaries revealed: See how much engineers, analysts and hundreds of other employees at the ride sharing company make
▼ + stars: | 2022-10-18 | by ( Diamond Naga Siu | Tom Dotan | ) www.businessinsider.com time to read: +6 min

We analyzed hundreds of H-1B visa applications to get a sense of how much Uber pays employees. The ride-sharing company offered two distinguished engineers nearly $350,000 each as a base salary. As a recession looms, Uber has dramatically slowed down on hiring — even freezing hiring altogether in many departments. But salaries are also a big part of how the company pays its employees. The highest-paid people in the data are two distinguished engineers in California who were each offered $345,000, while the lowest-paid person in the data is a data analyst in Illinois who was offered $56,700.

☆ Uber's chief incrementalist: Sundeep Jain is a divisive leader who shuns flying cars in favor of a steady march toward 'super app' status.
▼ + stars: | 2022-10-12 | by ( Tom Dotan | ) www.businessinsider.com time to read: +12 min

Instead, Jain has overseen the introduction of add-on features to Uber's app, such as rental car bookings and party buses leasing. "Spending a half billion a year on flying cars doesn't make sense for the type of business we are," said one current Uber executive. "I don't think innovative people want to work for a non-innovative product leader," said one former Uber executive. "Under Sundeep's leadership the product team has shipped more products, to more users, than ever before," a spokesperson told Insider. That's two billion dollars," a current Uber product executive said.

☆ Uber, Doordash plunge after Labor Department proposes change to gig worker classification
▼ + stars: | 2022-10-11 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

The Biden Labor Department released a proposal Tuesday that could pave the way for regulators and courts to reclassify gig workers as employees rather than independent contractors. The proposed rule, if adopted, could raise costs for companies like Lyft , Uber , Instacart and DoorDash that rely on contract workers to pick up shifts on their own schedules. Shares of Uber and Lyft fell more than 11% Tuesday morning, while DoorDash dropped about 9%. The new proposed rule will still need to make its way through the formal regulatory process, including allowing time for the public to submit comments, before it is adopted. It added that the rule "Does not reclassify Lyft drivers as employees," and also doesn't force it to change its business model.

☆ Uber investigating 'cybersecurity incident' after report of breach
▼ + stars: | 2022-09-16 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Mike BlakeSept 16 (Reuters) - Uber Technologies Inc (UBER.N) said it was investigating a cybersecurity incident after a report of a network breach that forced the company to shut several internal communications and engineering systems. Uber began investigating the cybersecurity incident on Thursday. Uber employees were instructed to not use Salesforce Inc -owned office messaging app Slack, according to the NYT report. "I announce I am a hacker and Uber has suffered a data breach," the message read, and went on to list several internal databases that were allegedly compromised, the report added. The worker was persuaded to hand over a password that allowed the hacker to gain access to Uber's systems, the report said.

Search resuls for: "Khosrowshahi"

15 mentions found