5 Tech Stocks Gaining Value After Earnings

1. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 144

Shares of Uber Technologies, Inc. (NYSE:UBER) climbed nearly 19 percent on Tuesday, August 2, despite announcing mixed results for the second quarter. Perhaps, investors seemed impressed with the company’s Q2 revenue, which skyrocketed 105 percent on a year-over-year basis to $8.1 billion and crushed the consensus of $7.4 billion.

On the downside, Uber Technologies, Inc. (NYSE:UBER) reported a loss of $1.33 per share, much wider than analysts’ average estimate for a loss of 27 cents per share.

Among other updates, Uber Technologies, Inc. (NYSE:UBER) reported that gross booking for the quarter jumped 33 percent to $29.1 billion, with mobility gross bookings rising 55 percent and delivery gross bookings improving 7 percent on a year-over-year basis.

For the current quarter, Uber Technologies, Inc. (NYSE:UBER) projected adjusted EBITDA in the range of $440 – $470 million and gross bookings between $29 – $30 billion.

Speaking on the results, CFO Nelson Chai said:

“We became a free cash flow generator in Q2, as we continued to scale our asset-light platform, and we will continue to build on that momentum. This marks a new phase for Uber, self-funding future growth with disciplined capital allocation, while maximizing long-term returns for shareholders.”

You can also take a peek at 10 Dividend Stocks to Buy According to John Allison’s Unio Capital and Jim Cramer Recommends These 10 Stocks For Recession.

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