Last week, they reported a beat on every line item, including 23% revenue growth YOY and total orders 91% YOY, with improved guidance. From the pandemic, people are used to using food delivery apps, given order frequency and customer retention, while digital penetration is growing including their monthly subscription.
YOY gross bookings +16%, revenue 8% and adjusted EBITDA 79%, beating the street. In an economic slowdown, more people will work for Uber Eats, thereby lowering costs and prices. Also, the Uber One membership means $0 delivery fees. The food delivery business has been sticky.
They just reported a huge earnings beat and raised full-year forecast because of their weight-loss drug. Run by a great CEO. Yes, there are many competitors, but LLY remains ahead of them all. There are spending $20 billion to build/expand facilities to produce more weight-loss drugs.