Uber reported robust second-quarter outcomes, with each gross bookings and web revenue rising considerably. However the firm has as a substitute chosen to spotlight the success of its self-driving automotive efforts, probably in an effort to calm investor issues about looming competitors from Tesla, which plans to launch its first robotaxi in October.
Uber stated in its second-quarter outcomes assertion that the variety of journeys taken by self-driving automobiles elevated six occasions in contrast with the identical interval final yr, however the firm didn’t disclose this quantity. And, the very first thing the corporate highlighted in its presentation was self-driving automobiles within the Self-Driving Automobile Highlight phase. It particulars how the ride-hailing and supply large has the fitting leveraging, client expertise and go-to-market experience to “ship the best worth to its self-driving companions.”
Tesla CEO Musk has repeatedly stated Tesla’s future robotaxi community would have an analogous enterprise mannequin to Uber and Airbnb, with Tesla house owners ready so as to add suitably outfitted autos to the automaker’s personal rides in shared functions. Tesla will present a devoted fleet of robotaxis in locations the place there aren’t sufficient folks to share automobiles.
Uber started working with Alphabet’s self-driving automotive subsidiary Waymo in October 2023 to offer robotaxi providers in Phoenix. In April, the corporate started autonomous supply within the metropolis.
The corporate famous in its investor presentation {that a} hybrid community with autonomous and human drivers “can ship a constant, high-quality and dependable client expertise throughout all geographies, 24/7.”
Uber additionally counts autonomous freight shipments in opposition to the entire variety of self-driving journeys. The corporate partnered with self-driving trucking firm Waabi in September 2023, and the 2 corporations have been conducting a driver-driven business pilot between Dallas and Houston for the previous 11 months. The corporate just lately signed a multi-year settlement with one other self-driving trucking startup, Aurora Innovation, to make its self-driving know-how obtainable on the Uber Freight community by 2030.
Uber has additionally partnered with sidewalk supply robotic firm Serve Robotics and most just lately Cartken to autonomously ship meals on the Uber Eats community.
Uber didn’t disclose what number of self-driving automotive journeys it facilitated up to now yr. Neither Waymo nor Waabi instantly responded to requests for remark.
Uber stated it is going to reveal extra particulars about its self-driving automotive plans within the coming months. These might embody a latest cope with BYD to launch 100,000 new electrical autos on the platform in Latin America, Europe, Canada, Australia and New Zealand. The partnership will present drivers with reductions on shopping for or leasing BYD automobiles, and the 2 corporations can even collaborate to develop “future BYD self-driving automobiles” and deploy them on the Uber platform.
“BYD has dedicated to creating very, very important investments in autonomous driving,” Uber Chief Govt Dara Khosrowshahi stated on Tuesday’s earnings name. “Judging from what they’ve achieved in electrical autos, I am additionally going to make an enormous funding in autonomous driving.” Guess on them.”
In June, BYD introduced a $14 billion funding in autonomous car know-how.
Buyers reacted positively to Uber’s outcomes. As of this writing, Uber’s shares are up 6% in pre-market buying and selling and are recovering to the place they had been buying and selling earlier than the broader market plunge final Thursday.
Uber additionally reported better-than-expected complete bookings within the second quarter, rising 19% to $39.95 billion, barely increased than analysts’ forecast of $39.7 billion. On an adjusted foundation, Uber’s web revenue was US$1.57 billion, once more increased than analysts’ forecast of US$1.5 billion. Uber additionally stated its quarterly working revenue hit a file excessive.
Uber expects third-quarter bookings to be between $40.25 billion and $41.75 billion, and stated it expects to face headwinds of $400 million as a result of latest power of the U.S. greenback relative to different currencies.
