Analysts expect Uber’s revenues to rise to $10.1 billion

Analysts revealed that they expect the revenues of the ride-sharing company Uber to rise to $10.1 billion on an annual basis, compared to the $8.82 billion that the company announced in the first quarter of 2023, exceeding the $10 billion barrier for the first time.

Uber is scheduled to announce its quarterly results tomorrow, Wednesday. In contrast to the $157 million net loss Uber reported last year, which equates to a loss of 8 cents per share, analysts expect Uber to report net income of $477.2 million, or earnings per share (EPS) of 22 cents, according to estimates.

Jeffers analysts earlier this month raised the company’s price target for Uber to $100 from $95, about 40% above the $71.51 level the stock closed on Monday.

Analysts said Uber’s revenue could benefit from increased adoption of some of its newer services, including a feature that allows users to book rides up to 90 days in advance.