TravelCar was launched in 2012 and is already operating in 60 countries. The company offers 3 different service: Paid Parking, Free Parking and Car rental.
07.11.2023 - 16:49 / skift.com / Dara Khosrowshahi
Uber Technologies forecast fourth-quarter gross bookings and adjusted core profit above market expectations on Tuesday, betting that the holiday season would boost demand for its ride-hailing and food-delivery services.
After a bruising 2022, the dominant U.S. ride-hailing company has benefited from the return-to-office push by companies and resilient travel demand despite inflation.
Uber expects adjusted core profit, a profitability measure watched by investors, between $1.18 billion and $1.24 billion. Analysts expected $1.15 billion, LSEG data showed.
“Consumer demand on our platform remains healthy as we enter the busiest period of the year,” CEO Dara Khosrowshahi said in his prepared remarks.
“This trend continued into the fourth quarter as we achieved all-time highs in October for overall trips and gross bookings, driven by strength across both mobility and delivery.”
Gross bookings, or the total dollar value earned from its services, is expected to be between $36.5 billion to $37.5 billion in the last three months of the year compared with expectations of $36.31 billion.
The company’s core profit topped expectations for the third quarter, but its revenue growth missed estimates. Uber said certain accounting changes related to how it recognizes revenue impacted growth at its combined mobility and delivery businesses by eight percentage points.
Revenue rose 11%, its slowest since the March 2021 quarter, to $9.29 billion, missing analysts’ average estimate of $9.52 billion. The rate compares to a more than 14% growth in the prior quarter and a 70% surge a year earlier.
Adjusted core profit was $1.09 billion compared to expectations of $1.02 billion.
Revenue from its core ride-share services grew in line with expectations at 33%, supported by a pickup in business-related travel including daily commutes to offices.
Delivery revenue grew 6%, but missed expectations of at least 16% rise.
TravelCar was launched in 2012 and is already operating in 60 countries. The company offers 3 different service: Paid Parking, Free Parking and Car rental.
Hotels continue hiring spree to meet demand, ask Congress for help with more workers.
The holiday season is upon us. But festive parties, family gatherings, and travel can all increase your risk of becoming one of the approximately five to 20 percent of Americans who get the flu.
Around the holiday season, Disney becomes a magical experience. At Walt Disney World, fans can see 1,300 decorated trees and 8.5 million lights throughout the resort, according to The Walt Disney Company.
A recent study found that the majority of travelers are hitting the road during the upcoming Thanksgiving and Winter Holiday travel period.
This past Friday, November 17, marked the official start of the Thanksgiving travel period, a 12-day stretch during which the Transportation Security Administration (TSA) anticipates that it will screen a record 30 million passengers this year. And unfortunately, the period that typically sees the busiest travel days of the year comes just as a major storm is gaining momentum across much of the eastern half of the United States.
Travel-inspired home decor gifts infuse a jetsetter’s space with their passion for exploration. They’ll love being surrounded by special items that remind them of their adventures and help them anticipate upcoming journeys when they’re grounded between trips. Whether it’s framed art from a famous hotel, a set of tropical dessert bowls, or an Eiffel Tower-shaped soap dispenser, these thoughtful gifts for travelers bring the world into their home.
Ahead of what is expected to be one of the busiest travel seasons in history, U.S. Secretary of Transportation Pete Buttigieg warned of potential weather-related disruptions and increased pressure on airlines to manage high passenger volumes while encouraging travelers to remember their passenger rights.
Travel Advisors are experiencing growing demand from clients who want customized itineraries and experiences that meet their personal and changing travel tastes. Customized experiences that will give them a lifetime of memories and a few bragging rights at get-togethers with family and friends—that’s what they’re looking for.
The strong post-pandemic air travel boom continued across the globe this September, according to research conducted by the International Air Transport Association (IATA), published November 9.
For all the holiday travel planning procrastinators out there, this one is for you. Alaska Airlines just announced a Mexico fare sale—and the deals don’t exclude holiday travel dates.
Uber is working on a lot of projects to push its business beyond its traditional focus.