Monday’s Headlines: Uber Stock Has Its Best Day Ever
1. Investors in ride-sharing giant Uber will be partying this weekend as the stock closed on Friday up nearly 10% following its best day ever on the public market. Uber reported accelerating revenue growth on an annualized basis of 37% up from 30% in the previous quarter at $4.07 billion and a better-than-expected loss per share of $0.64. CEO Dara Khosrowshahi told analysts the company would move up its EBITDA profitability target to the fourth quarter, earlier than its previously stated goal for the full year of 2021. Read here for more.
2. Despite winning more nominations (24) than any other studio at the 92nd Oscars, Netflix brought home just two awards. Laura Dern was named Best Actress in a Supporting Role for playing Nora, a flashy divorce attorney in “Marriage Story”, while “American Factory” won the award for Best Documentary Feature. Netflix’s stock remains unchanged pre-market following the news, but the streaming giant will surely be disappointed that its big-name feature “The Irishman” did not bring home any awards. Read more.
3. Global leader in education technology, 2U, had a wonderful day on the market Friday, with its stock closing up more than 11% following its fourth-quarter earnings call. Revenue increased 40% to $574.7 million for the full year, while its crucial Graduate Program Segment revenue increased 20% to $417.2 million. "Over the past year… we have opened up significant new market segments, more than doubled our client base, and now deliver a portfolio of over 400 career-relevant, high-quality product offerings," Chief Executive Officer Christopher Paucek said. Get the complete report here.