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MarketWatchFeb 08, 2023
The Margin: Super Bowl LVII: When is it? Where is it? And how much are tickets?
Here's everything you need to know ahead of the biggest U.S. sporting event of the year.

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MarketWatch MarketPulseFeb 08, 2023
: Uber stock rises after earnings as company gives upbeat outlook
An earlier version of this report misstated Uber's adjusted Ebitda guidance. It has been corrected.Shares of Uber Technologies Inc. UBER were heading 7% higher in premarket trading Wednesday after the ride-hailing company delivered an upbeat outlook for the current quarter. The company generated fourth-quarter net income of $595 million, or 29 cents a share, whereas it posted net income of $892 million, or 44 cents a share, in the year-earlier quarter. The FactSet consensus was for a 15-cent loss per share on a GAAP basis. Uber's net income figure included a $756 million net pre-tax benefit largely due to unrealized gains from the revaluation of equity investments. Uber also reported adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of $665 million, whereas analysts were expecting $624 million. Revenue increased to $8.6 billion from $5.8 billion, while analysts had been modeling $8.5 billion. Gross bookings rose $19% to $30.7 billion, matching the FactSet consensus. "We ended 2022 with our strongest quarter ever, with robust demand and record margins," Chief Executive Dara Khosrowshahi said in a release. For the first quarter, Uber executives anticipate gross bookings of $31.0 billion to $32.0 billion, along with $660 million to $700 million in adjusted Ebitda. Analysts were looking for $31.3 billion in gross bookings and $612 million of adjusted Ebitda.

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