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A Look Back at Gig Economy Stocks’ Q4 Earnings: Uber (NYSE:UBER) Vs The Rest Of The Pack

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A Look Back at Gig Economy Stocks’ Q4 Earnings: Uber (NYSE:UBER) Vs The Rest Of The Pack

Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Uber (NYSE:UBER) and the best and worst performers in the gig economy industry.

The iPhone changed the world, ushering in the era of the “always-on” internet and “on-demand” services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech-enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away.

The 6 gig economy stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 2.5% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 1.8% on average since the latest earnings results.

Uber (NYSE:UBER)

Notoriously funded with $7.7 billion from the Softbank Vision Fund, Uber (NYSE:UBER) operates a platform of on-demand services such as ride-hailing, food delivery, and freight.

Uber reported revenues of $11.96 billion, up 20.4% year on year. This print exceeded analysts’ expectations by 1.6%. Overall, it was a satisfactory quarter for the company with strong growth in its users but EBITDA in line with analysts’ estimates.

“Uber ended 2024 with our strongest quarter ever, as growth accelerated across MAPCs, trips, and Gross Bookings,” said Dara Khosrowshahi, CEO.

Uber Total Revenue
Uber Total Revenue

The stock is up 16.1% since reporting and currently trades at $80.98.

Is now the time to buy Uber? Access our full analysis of the earnings results here, it’s free.

Best Q4: Angi (NASDAQ:ANGI)

Created by IAC’s mergers of Angie’s List and HomeAdvisor, ANGI (NASDAQ: ANGI) operates the largest online marketplace for home services in the US.

Angi reported revenues of $267.9 million, down 10.8% year on year, outperforming analysts’ expectations by 5.3%. The business had a very strong quarter with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ number of service requests estimates.

Angi Total Revenue
Angi Total Revenue

The market seems content with the results as the stock is up 4.1% since reporting. It currently trades at $1.79.

Is now the time to buy Angi? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Lyft (NASDAQ:LYFT)

Founded by Logan Green and John Zimmer as a long-distance intercity carpooling company Zimride, Lyft (NASDAQ: LYFT) operates a ridesharing network in the US and Canada.