Uber reported Q1 2023 revenue of $8.82B, a 29% YoY increase, and gross bookings of $31.4B, a 19% YoY increase. In contrast to last year, when the company's net loss was $5.9B or $3.03 per share, it posted a net loss of $157M, or $0.08 per share. More: - Uber's adjusted EBITDA reached $761M, exceeding experts' predictions of $687M.
- Revenue for the mobility segment was $4.33B, while revenue for delivery was $3.09B.
- Gross bookings for Uber's most prominent business division, Mobility, increased 40% YoY to $14.98B, while gross bookings for delivery increased 8% to $15.02B.
- Sales for Uber's freight division decreased from the $1.8B it reported for the same quarter last year to $1.4B for the quarter.
- Shares of $UBER rose by 7% on Tuesday and closed up another 3.61% on Wednesday at $37.84.
NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber. 
| |
Starbucks reported a net income of $908.3M in Q2 2023, up from $674.5M in the same quarter a year ago, with net sales rising 14.2% and same-store sales increasing 11%. These earnings beat Wall Street estimates, with adjusted EPS of $0.74 compared to the expected $0.65. More: - U.S. same-store sales increased by 12% due to a 6% rise in foot traffic, and 30.8 million people actively participate in loyalty programs.
- With same-store sales rising 7% outside the United States, international markets fared better than anticipated.
- China's same-store sales increased by 3%; March saw a 30% increase, and Starbucks China Chair Belinda Wong expects the trend to be continued into the third quarter.
- Starbucks updated its fiscal-year estimate, estimating 10% to 12% revenue growth and 15% to 20% adjusted EPS growth.
| |
 A message from SLACK When you’re growing a business, everyday tasks can slow you and your team down Back-and-forth emails. Meetings on top of meetings. A never-ending to-do list.
Enter Slack, a single space to connect with everything, share and search for information, and help your teams do more with less. And with Slack Pro, you can: - Keep conversations in one place:
Whether you’re working with your teammates or collaborating with partners outside your company, Slack Pro brings all the right people and information together in one organized space. - Find what you need, share what you know:
From files to photos to conversations, everyone can access any message that’s ever been shared, so they have all the information they need to make decisions and move work forward. - Connect instantly with huddles
Need to gather quickly to brainstorm or work through a complex problem? Start a huddle to talk instantly over audio or video. You can even share your screen and start a thread for notes.
Right now, you can save 50% off your first 3 months of Slack Pro. Learn More
| |
Due to robust oil and gas trading, BP reported a $5B profit for Q1 2023, an increase from the previous quarter. This beat expectations, with underlying replacement cost profit reaching $4.96B despite a drop in operating cash flow to $7.6B compared to $13.5B in Q4 2022. More: - After reducing its share buyback program from $2.75B to $1.75B, BP's stock price dropped 8%, but it still exceeded its target of using 60% of its extra cash for repurchasing shares.
- Investors felt let down due to reduced buyback funds, and its prediction of decreased oil and gas production in the second quarter added to their disappointment.
- In Q2 2023, BP anticipates that the price of oil and European petrol will stay high but that the profit margins for refining will decline due to decreased diesel prices.
- BP will pay $1B in windfall tax and maintain its $0.066 per share dividend despite the 10% increase in February.
| |
A consortium of Europe's leading satellite and aerospace companies has been created to submit a bid for the $6.6B IRIS² satellite project. This project will provide internet access across Europe and promote the EU's technological sovereignty in a competitive global environment. More: - The consortium for the project is led by Airbus SE, Thales Alenia Space SAS, Eutelsat Communications SA, SES SA, and Hispasat SA and includes telecom and technology companies such as Deutsche Telekom AG, Orange SA, OHB SE, and Telespazio SpA.
- The constellation will use hundreds of satellites to connect underserved regions of Europe and operate in various orbits, including low-Earth orbit.
- The private sector will provide the remaining financing for the project, with the EU providing $2.65B.
- The consortium is looking for startups to build 30% of the final system, and the satellites will begin service in 2024 and reach total capacity by 2027.
| |
| A message from SUPERVEST Supervest's Short-Term Notes I offers flexible terms and solid potential returns. Searching for short-term income-generating investments? Look no further than Supervest's Short-Term Notes. This short-term investment option offers competitive returns, a low-risk profile and: - Annualized Rate: Investors are paid an annualized 10% rate which consists of monthly payments.
- Short-term: Funds are expected to be repaid in 12 months' time.
- Rollover: Investors have the option to roll their investment into another note at the date of maturity.
- No fees: At the end of one year, the investor can choose to receive its entire principal or roll it over to enter into a new note.
Invest today
| |
Icahn Enterprises saw its shares fall drastically following a short call from Hindenburg Research, which accused the company of having an inflated value by up to 75%. Founder Carl Icahn is known for his activism and corporate battles, such as with Herbalife and Illumina. More: - Icahn replied that the business' performance would "speak for itself over the long term."
- Hindenburg questioned the dividend yield and recent financing of Icahn Enterprises, describing it as having a "Ponzi-like" structure.
- The report called Jefferies Financial Group the only big investment bank to publish research coverage on Icahn Enterprises.
- Hindenburg-targeted companies saw an average decline of 15% the day after a critical report surfaced and 26% six months later.
| |
Peter Thiel and Richard Li-backed Bridgetown Holdings is in the final stages of talks to merge with Hong Kong-based Hyphen Group, a financial technology company. The deal, valued at a few hundred million dollars and anticipated to include a private investment in public equity (PIPE) supported by institutional investors, might be disclosed this month. More: - Bridgetown, a partnership between Thiel Capital and Pacific Century Group, raised $595M in a U.S. initial public offering in 2020.
- With Goldman Sachs, Hyphen has been discussing funding alternatives, such as a particular purpose acquisition company (SPAC) or private fundraising.
- Pacific Century, Alibaba Group, Goldman Sachs, International Finance Corp., and Experian Plc. are some of the fintech firm's supporters.
- In regions including Hong Kong, Malaysia, the Philippines, Singapore, and Taiwan, Hyphen has over 10 million monthly users and provides comparison tools for financial services.
| |
Quick Hits: *This is a sponsored listing.
| |
Upcoming events: - May 08 - Inside.com Town Hall (Register Here)
- May 11 - Testing and monitoring large language models (LLMs) with TruEra (Register Here) *
- May 17 - Monthly Meditation guided by Nicholas Whitaker (Register Here)
- May 17 - Join Vanta's webinar to see Vendor Risk Management in action and learn about automating security reviews. (Register Here) *
*This is a sponsored listing.
| |
 |  | Shriram is pursuing Master’s in Business with Marketing at Warwick Business School. He worked as a Senior Consultant in Tech and Political Consultancies before his Masters. He is passionate about Tech, Marketing, Strategy, Anthropology and Politics. He is also the Postgraduate Ambassador for Warwick Business School. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
| |
Looking to add alternative investments to your portfolio? Look no further than Supervest. | |
