Key facts
- Uber forecasts current-quarter adjusted earnings below Wall Street estimates.
- Uber cites foreign exchange headwinds for its weak profit forecast.
- Uber plans to invest over $10 billion in robotaxis and acquisitions.
- Uber recently completed a $14.8 billion deal for Delivery Hero.
- Match Group projects third-quarter revenue below Wall Street expectations.
- Match Group cites anticipated declines in its 'Everyone Everywhere' brands for the revenue forecast.
- Azar and Pairs are identified as 'Everyone Everywhere' brands facing anticipated declines.
- Tinder and Hinge dating apps show positive trends for Match Group.
Uber Technologies has forecast adjusted earnings for the current quarter that fall below Wall Street estimates, citing foreign exchange headwinds as a primary reason for the projection. The company, however, reaffirmed its commitment to investing more than $10 billion in the development of robotaxis and in strategic acquisitions. This investment plan includes the recently completed $14.8 billion deal to acquire Delivery Hero. The company's outlook suggests a cautious near-term financial performance despite its ambitious long-term investment strategy.
In parallel, Match Group has projected that its third-quarter revenue will not meet Wall Street's expectations. The dating app conglomerate attributes this forecast primarily to anticipated declines in performance from its portfolio of 'Everyone Everywhere' brands. These brands include Azar and Pairs, which are expected to contribute less revenue than previously anticipated. This projection for the 'Everyone Everywhere' segment has overshadowed more positive trends observed in Match Group's flagship dating applications, such as Tinder and Hinge, which continue to show growth and positive momentum.