Earnings reports

Uber reports record revenue, but delivery takes a back seat

Uber eats app

It looks like rideshare is back in the driver’s seat for Uber (NYSE: UBER) after Eats and its delivery business steered the company through the pandemic.

The company reported a record $8.1 billion in revenue for the second quarter of 2022, up 33% from a year ago, due largely to growth in its mobility business. More drivers (5 million) and customers (122 million per month) used Uber’s platform in Q2 than ever before, which helped it offset losses from its investments in Aurora, Grab and Zomato.

In...

https://www.freightwaves.com/news/uber-reports-record-revenue-but-delivery-takes-a-back-seat

Loaded and Rolling: Trailer as a service; large carrier Q2 earnings boon

Loaded and Rolling Cover ImageTrailer-as-a-service partnership 
(Source: FreightVana)

Trailer pool services are gaining adoption. Wabash, a major manufacturer of equipment, recently announced a partnership with Phoenix-based freight brokerage FreightVana to supply the company with its trailer-as-a-service (TaaS) platform. The platform will provide FreightVana customers with trailer pool services as part of the power-only offering known as FreightVana X. 

This comes as more shippers seek trailer pools to provide greater...

https://www.freightwaves.com/news/loaded-and-rolling-trailer-as-a-service-large-carrier-q2-earnings-boon

Lyft stock falls sharply in post-market trading despite revenue beat

Lyft rideshare vehicle company earnings

Ride-hailing giant Lyft reported stronger-than-expected Q1 2022 earnings results after the bell on Tuesday. Lyft’s revenue of $875.6 million in Q1 beat the analyst consensus estimate of $845.5 million as rideshare ride volumes reached a new COVID-era high. The company’s Q1 2022 revenue of $875.6 million represents an improvement of 44% over Q1 2021’s $609 million. 

Despite the revenue beat, shares of Lyft (NASDAQ: LYFT) were down sharply in the early hours of post-market trading. The stock...

https://www.freightwaves.com/news/lyft-stock-falls-sharply-in-post-market-trading-despite-revenue-beat

Lyft reports first-ever full-year adjusted profit

Lyft reports Q4 2021 and FY2021 earnings results

Ride-hailing platform Lyft announced its earnings for Q4 2021 and FY2021 after the bell on Tuesday, turning in its first-ever profitable year in terms of adjusted earnings before interest, taxes, depreciation and amortization. The company reported a figure of $92.9 million after a loss of more than $750,000 in 2020.

A sizable chunk of that profit came during Q4. Adjusted EBITDA for the fourth quarter of 2021 was $74.7 million, up from losses of $150 million in Q4 2020 and topping Lyft’s...

https://www.freightwaves.com/news/lyft-reports-first-ever-full-year-adjusted-profit

Descartes: Global demand, acquisition strategy fuel continued record revenue growth

Supply chain software provider Descartes Systems Group cites growth among its customer base and their willingness to invest in new technology for its record Q3 revenue.

“We generally do well as our customers do well, and a large portion of our customer base is continuing to do well. Ocean carriers, trucking companies, air cargo providers, freight forwarders, non-vessel-operating common carriers, freight brokers, customs brokers, third-party logistics providers — these are boom times for...

https://www.freightwaves.com/news/descartes-global-demand-acquisition-strategy-fuel-continued-record-revenue-growth

Berkshire Grey struggles in first quarter as public company

Berkshire Grey releases Q3 earnings and misses on analyst expectations

AI-powered robotics and supply chain automation company Berkshire Grey reported its first earnings as a publicly traded company Thursday morning before the bell, revealing some early struggles for the business.

While Berkshire Grey’s revenue of $18.8 million in Q3 2021 was magnitudes greater than its $2.2 million in Q3 2020 and its $4.5 million in Q2 2021, it still missed on analyst expectations of around $21.7 million.

At the same time, the Bedford, Massachusetts-based company more than tripled...

https://www.freightwaves.com/news/berkshire-grey-struggles-in-first-quarter-as-public-company

A tale of 2 food apps: Uber Eats grows, DoorDash finds new verticals

Uber Eats and DoorDash go different directions in Q3 after earnings releases

There’s nothing quite like having your lunch delivered to your doorstep by Uber Eats — except having your lunch delivered to your doorstep by DoorDash. The two longtime food delivery rivals have been at each other’s throats for years, competing to cement themselves as the primary option for consumers in the U.S. and abroad.

So far, Uber Eats has won the global battle –– it’s available on six continents and is first or second in gross orders in just about every country in which it operates ––...

https://www.freightwaves.com/news/a-tale-of-2-food-apps-uber-eats-grows-doordash-finds-new-verticals

DoorDash posts mixed earnings, acquires Wolt for $8.1B

DoorDash reports mixed earnings, stock jumps post market on news of Wolt acquisition

In its first earnings statement as a public company, issued on Feb. 25, DoorDash disappointed despite setting quarterly records for total orders, adjusted earnings before interest, taxes, depreciation and amortization, and market share. Investors instead fixated on the company’s doubling of its quarterly loss over Q4 2019.

Since then, DoorDash (NYSE: DASH) has ridden pandemic tailwinds to a pair of productive quarters in 2021, turning in strong earnings across the board in Q1 and a sequential...

https://www.freightwaves.com/news/doordash-posts-mixed-earnings-acquires-wolt-for-8-1b

Uber posts first-ever adjusted profit as drivers return

Uber posts first adjusted profit in Q3 2021 earnings, good quarter for Uber Eats and Uber Freight

It’s official –– Uber has turned in a profitable quarter for the first time since becoming a publicly traded company in 2019.

The company’s Q3 earnings release revealed an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) profit of $8 million, a narrow margin but enough to get Uber over the hump and into the realm of profitability.

Uber (NYSE: UBER) also beat the consensus analyst estimates for revenue during a quarter when the company’s gross bookings reached an...

https://www.freightwaves.com/news/uber-posts-first-ever-adjusted-profit-as-drivers-return

Shares of Wayfair fall on back of mixed Q3 earnings

Wayfair reports Q3 2021 earnings, misses on revenue, beats on EPS

Home furniture marketplace Wayfair posted a mixed Q3 2021 earnings report on Thursday, beating consensus analyst estimates on adjusted earnings per share while missing on revenue.

The e-commerce firm reported revenue of $3.1 billion, down 18.7% year-over-year from Q3 2020’s $3.8 billion. The company also lost $718.5 million quarter-over-quarter, the second quarter in a row in which revenue has declined.

Wayfair’s (NYSE: W) stock price was down about seven basis points in the morning following...

https://www.freightwaves.com/news/shares-of-wayfair-fall-on-back-of-mixed-q3-earnings

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