Let’s Start With Uber…
Uber reported after the bell Monday.
Uber said its loss for the three months ending in September expanded to 68 cents per share, well shy of the 54 cent loss Wall Street analysts had been anticipating. The loss, however, was set against improving revenues, which rose 30% from the same period last year to $3.53 billion as gross bookings jumped 29% to $16.47 billion, reported TheStreet’s Martin Baccardax.
And Then There Was Peloton…
Whew. Peloton is reporting its first earnings report before the bell Tuesday.
In its first quarterly report as a public company, Peloton posted a net loss of $49.8 million for the three months ended Sept. 30, or $1.29 a share, vs. a loss of $54.5 million, or $2.18 a share, in the comparable year-ago quarter. Analysts polled by FactSet had been expecting a loss of 36 cents a share. Sales came in at $228 million, above analysts’ forecasts of $199.1 million, reported TheStreet’s M. Corey Goldman.
What’s Going On With Earnings Season?
Cramer wrote about earnings season and how the algorithms are driving earnings season over in his Real Money column Tuesday morning.
“The meaninglessness of quarters must not be lost on you. On Monday, we had a host of companies whose stocks went nuts despite the fact that as recently as a couple of weeks ago — or even a few days ago — they reported widely panned numbers. Take Caterpillar CAT . When CAT reported, it was plum ugly. The great machinery maker cuts its forecast and told a pretty darned negative story about the world. The stock was looking down six to $129 and change at 8:15 a.m. ET — and there was no sign that it could possibly be bottoming,” wrote Cramer.
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