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Earnings Seasons Continues With Uber, Airbnb, and Starbucks

Plus500 | Tuesday 02 August 2022

The current earnings season is set to continue today as a diverse range of American firms release their quarterly results to the public. Following today, traders may be able to get a more in-depth grasp of how Uber, Airbnb, and Starbucks fared over the course of 2022’s tumultuous spring.

Earnings Season

Uber Drives Forward?

Before the ring of the opening bell on Wall Street this morning, ubiquitous ride-sharing firm Uber (UBER) is scheduled to release its Q2 2022 results. Uber took a big hit during the early stages of the pandemic as millions around the globe were subject to stay-at-home orders, but according to some market experts, the company is continuing on the road to recovery.

While Uber’s food delivery arm has experienced strong growth over the past two years, this, in addition to the continued upward trajectory of ride-sharing orders, may not be enough to help the firm coast past current macroeconomic challenges. As is well-known to the savvy trader, the price of Oil (CL), as well as consumer price inflation in general, has been a great cause of concern for those in the U.S. this year. Some market watchers posit that Uber’s bookings over the second quarter may not have reached their full potential due to the desire of riders to spare themselves unnecessary expenses. Additionally, although the price of Oil is almost 25% below its March 8th peak of 2022, drivers may have been reluctant to shell out at gas stations across the country. (Source:Yahoo Finance)

All in all, it seems that predictions for today’s earnings release are mixed. Gross bookings, including both deliveries and shared rides, are expected to have brought $28.8 billion into Uber’s coffers, marking a 31% rise since last year’s second quarter. However, Q2 2022’s loss per share figure is estimated to come in at 14 cents, a year-over-year decline of over 16%. Whether these results will inspire traders to help Uber shares recover some of the 41.3% they’ve lost in value since the beginning of the year is as yet unclear.

Uber Stock Chart

Airbnb Bookings Warm Up

Another firm that’s made a comeback since the doldrums of the COVID-19 pandemic is expected to release Q2 results today after the end of trading. Airbnb’s (ABNB) second-quarter earnings figures are expected to show the results of a jump in travel bookings throughout this spring. (Source:Nasdaq)

The firm’s results, covering business activity between March and June of this year, may have gotten a strong boost from the beginning of the summer travel season throughout the world, with especially lucrative jumps in North America and Europe, among other regions. 

While according to some, Airbnb has been consistently working to improve customer experience, competition in the travel booking arena is said to have remained strong and may have proven to be an upward limit on revenue. 

Despite the challenge of a growing list of competitors, as well as the presumed effect of record inflation rates on the will of would-be travelers to open their wallets, estimates are for Airbnb’s Q2 revenues to end up at $2.1 billion, a year-over-year gain of more than 57%. Additionally, earnings per share are estimated at 41 cents, a strong recovery since Q2 2021’s loss per share figure of 11 cents. Airbnb stocks have declined by over a third so far in 2022, and traders will have to wait and see whether this trend is reversed following this afternoon’s earnings call.

Airbnb Stock Graph

Starbucks to Get a Boost?

Also following today’s closing bell, coffee industry giant Starbucks (SBUX) is expected to reveal how it did over its third fiscal quarter. Starbucks shares have come down by 27% since the top of the year, and whether this trend will continue following today’s earnings call remains to be seen.

Starbuck Stock Graph

Analysts have pointed to a few key factors that may have made a mark on Starbucks’ business this spring. The ranks of the firm’s Rewards Program members continued to grow between March and June; however, the lockdowns that stifled business activity in many of China’s urban centres significantly impacted Starbucks’ bottom line in the world’s most populous country earlier this year. 

Estimates for today’s Q3 results are for earnings per share to come in at 77 cents, almost a quarter lower than the year-ago figure, while revenue for the quarter is expected to have grown by nearly 10% to over $8.2 billion.

While these three firms specialise in very different sectors of the economy, they have all faced significant headwinds throughout the spring of 2022. How they grappled with these issues and whether the results will be enough to satisfy stock traders could be revealed later today.

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