Uber Technologies Inc. and Lyft Inc. were expected to lose money after their IPO for a while.
have made their first earnings. Both companies have lost the same top executives – their chief operating officers and chief marketing officers. Uber announced the withdrawal of its COO and CMO just a week after its initial reporting, while Lyft's COO surprisingly retired at the end of July after his CMO left the house. Uber has not stopped losing three board members since the IPO and eliminating around a quarter of its marketing staff.
In the meantime, it is possible for profits for Uber and Lyft to show how much their customers are paying. Both companies suggested in their first earnings report that their price war could come to an end, and at least one analyst said prices for Uber had risen in areas where smaller rival Lyft is strong in attracting driver seekers for larger payouts ,
Downsizing and rising service prices are likely to be needed to bring Uber and Lyft closer to profitability, as MarketWatch's Therese Poletti highlighted on her IPO. Uber is expected to report more than $ 3 billion in quarterly losses on Thursday, as it overrules the fierce share-based compensation pill from its IPO practice. Lyft has included these costs in its previous earnings report, so the quarterly losses in a Wednesday report are expected to be less than half a billion dollars, but not much less.
See also: Uber was scrutinized by the SEC during the IPO process more closely than Lyft.
The losses investors are most concerned about lie in the share prices of the two companies, which are above their closing prices of IPO prices in just two trading sessions per company. By the close on Friday afternoon, Uber was more than 1
. Apart from the two young Ride Hail companies, the coming week will be slower than the last two, with a Dow Jones Industrial Average
component and about 65 S & P 500
Companies Expected to Publish Quarterly Results According to FactSet.
Disney's "Avengers: Endgame" Windfall
The only Dow component in the weekly is The Walt Disney Co.
which serve as consideration for the losing stores of Uber and Lyft. It is expected that Disney will post an adjusted profit of about $ 3 billion on Tuesday afternoon, as the biggest blockbuster of all time, "Avengers: Endgame", as well as the opening of "Toy Story 4" brings in the money the movie business is expected Record a record profit of more than $ 1 billion per quarter.
CEO Robert Iger is expected to continue talking about Disney's new streaming service, which is expected to launch in November, and the first quarter with the full results of its large acquisition of Fox Corp.
. The company's theme park business is also seeing revenue and earnings growth from a ticket price hike that took effect in the previous quarter. Fox will cut its revenues on Wednesday while CBS Corp.
and Viacom Inc.
are scheduled for Thursday as a result, as these two companies are approaching an expected merger. Streaming platform company Roku Inc.
and AMC Entertainment Holding Inc. are also expected to report profits on Thursday.
AMC, + 3.20%
Also Report This Week
• According to the results of all the big tech companies of the last two weeks, the coming week will be dominated by Internet companies and video games publisher. After Electronic Arts Inc.
reported together with Zynga Inc. last week
Take Two Interactive Corp.
and Activision Blizzard Inc.
will follow on Monday and Thursday respectively. Among the Web name reports are IAC Interactive Corp.
and its spin-off, Match Group Inc.
Bookings Holdings Inc.
YELP, + 1.17%
Zillow Group Inc.
and Overstock.com Inc.
• After the great flood of results at the beginning of each quarter, retailers will be in the limelight starting next week. CVS Health Corp.
CVS, + 0.61%
Costco Wholesale Corp.
and Office Depot Inc.
are expected to all show profits on Thursday.
• Kraft Heinz Co.
has been silent about the profits since a horrific report containing news of an SEC investigation in February. However, results for the first half of the year are expected to be released on Thursday. Co-sponsor of grocery shopping Blue Apron Inc.
are due to report on Tuesday. Pot Company Cronos Group Inc.
CRON, + 8.72%
is signed in for Thursday.