On Thursday, October 31 Uber Technologies Inc. (UBER, Financial) will present its Q3 results; analysts and investors expect updates on the company's autonomous car projects. While sales are expected to post $10.98 billion, indicating an 18.2% YOY jump, the consensus earnings per share (EPS) estimate is at $0.62 per share.
Recent autonomous technology expenditures by Uber have attracted notice. The company made investments in AI tech company Wayve in August and in September Uber and Chinese company WeRide revealed a cooperation to use WeRide's autonomous vehicles on the Uber platform in the United Arab Emirates. Uber has signed a multiyear contract with U.S.-based Avide to combine Uber and Uber Eats with delivery robots and driverless vehicles.
Jefferies claims Uber is positioned to propel makers of driverless cars to experience sustainable expansion. The company observed that broader acceptance of robotaxis might boost Uber's mobility market by lowering prices and increasing supply, hence opening possible ride-sharing use cases. Market observers are eager to learn Uber's future moves in its autonomous strategy as it gears up for its earnings announcement.
