TMTB: Uber First Take

UBER -6% doesn’t look great as Q3 bookings came in light vs street and bogeys missing by 1-2% due to mobility and Q4 EBITDA missed buyside bar and even slightly below street. FCF solid.

Sentiment was mixed heading into the print given noise around AV (Waymo, robotaxi, etc.) and mixed 3p data and these numbers don’t do much to inspire confidence in short or long term investors (LYFT/DASH partnership announced yesterday doesn’t help as well). Feel like UBER is one of those stocks right now where they have to be beating to get people off the structural AV fears and this print didn’t do that. Wait for Dara to say more on the call…