FANGU might be a better acronym for big internet companies than the traditional FANG moniker, one analyst said after Uber's latest earnings report.
Uber Technologies Inc. is ready to join the ranks of Facebook Inc., Amazon.com Inc., Netflix Inc., and Alphabet Inc.’s Google, one analyst said after the company’s latest earnings report.
In the latest quarterly numbers that came out Thursday afternoon, Mahaney liked that Uber’s ride-hailing business saw improvements as the ride hailing industry as a whole becomes more “rational,” meaning that players have limited their attempts to undercut one another with the sorts of pricing and big discounts that had at one time suggested the business might be a race to the bottom. Mahaney saw encouraging signs in Uber’s pricing moves and talk about service segmentation.
“Uber’s guidance on the bottom-line was positive, and arguably necessary to build credibility with investors,” he wrote. “At the same time, it seems to be coming at the expense of growth. With management conviction high on this strategy, and belief low-hanging fruit is there, all that’s left is to go deliver.
“[T]he improving profitability continues to highlight that the U.S. rideshare market is rationalizing and both Uber and Lyft LYFT, +5.27% plan to act accordingly going forward,” he wrote. “That said, the lack of visibility and uncertainty around trends in ridesharing and Eats outside the U.S. continue to make us cautious around the near-term trends.
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