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Uber Hits New Heights: S&P Boosts Rating to Investment-Grade!

by Team Lumida
August 17, 2024
in Equities
Reading Time: 3 mins read
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Photo by Austin Distel on Unsplash

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Key Takeaways

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  1. S&P upgraded Uber to investment-grade due to strong earnings growth.
  2. Investors may see Uber as a more stable investment now.
  3. Future earnings and market performance will be critical to sustain this rating.

What Happened?

S&P Global Ratings upgraded Uber Technologies Inc. to an investment-grade rating. This upgrade reflects Uber’s significant earnings growth and improved financial performance. According to S&P, Uber’s revenue surged by 72% year-over-year, reaching $8.34 billion.

The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a notable improvement, turning positive for the first time in its history. This milestone is pivotal, as it suggests Uber is moving towards sustained profitability.

Why It Matters?

This upgrade to investment-grade status signals to investors that Uber has become a more stable and reliable investment. S&P’s endorsement could attract a broader range of institutional investors who typically avoid non-investment-grade securities.

Moreover, this rating can lower borrowing costs for Uber, allowing the company to reinvest savings into growth initiatives. CEO Dara Khosrowshahi remarked, “This recognition reflects our solid execution and the growth potential of our platform.”

What’s Next?

Uber’s future hinges on maintaining its positive earnings momentum and navigating market challenges. Investors should watch for upcoming quarterly earnings reports to gauge whether the company can sustain its profitability.

Additionally, the broader market trends in ride-sharing and food delivery will impact Uber’s performance. Given the competitive landscape, Uber’s ability to innovate and expand its services will be crucial. Expect analysts to scrutinize Uber’s strategic moves and cost management in the coming quarters.

Source: Bloomberg
Tags: Uber
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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
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