Jim Cramer: Uber Eats Shouldn't Compete with GrubHub
Uber is reporting earnings after the bell Thursday, May 7.
Uber's March quarter financial results and commentary will help give investors a better sense of the durability of Uber's business, which includes food delivery in addition to rides, amid widespread disruption to its core ride-hailing segment.
Shares of the company are only down 5% year to date.
Analysts polled by FactSet are expecting revenues of $3.55 billion and a loss of 80 cents per share for Uber's quarter.
So, what should you watch when the report goes live?
She's watching the impact of the coronavirus pandemic, Uber Eats (more on that from Jim Cramer in a moment) and Uber's profitability goals.
"Uber's original goal of turning a profit by the end of this year is now a distant memory. And it seems implicit in the company's recent statements that profitability is unlikely to happen this year. Like other firms, Uber withdrew its 2020 guidance for gross bookings, adjusted net revenue and adjusted EBITDA," Gaus noted.
Cramer, on the other hand, is keeping a sharp eye on Uber Eats, because--as he put it himself--"I want Uber Eats to go."