Winner Take All #017 | Uber & Lyft Deep Dive, PDD Earnings, Uber Freight, PUBG in China

Available on YouTube here: https://youtu.be/lmjfCvDvRQc

Notes from this episode -

Uber v Lyft Deep Dive:

Contribution margin is a measure of revenue vs. variable costs.

https://s23.q4cdn.com/407969754/files/doc_financials/2019/Q2/Uber-Q2-19-Earnings.pdf

https://investor.uber.com/news-events/news/press-release-details/2019/Uber-Reports-Second-Quarter-2019-Results/default.aspx

Gross bookings growing at 37% on $15.75bn, expected 15.83?

Revenue growing at 26% at $2.87

Beat on earnings - lost $600mm vs. $900m

Loss per share: $4.72, versus $3.12 expected

Revenue: $3.17 billion versus $3.36 billion expected

https://www.cnbc.com/2019/08/08/uber-earnings-q2-2019.html

Lyft earnings:

https://investor.lyft.com/news-releases/news-release-details/lyft-announces-record-second-quarter-results

Lyft reported Contribution of $398.9 million versus $212.5 million in the second quarter of 2018, up 88% year-over-year. Contribution Margin increased to 46.0% from 42.1% versus the second quarter of 2018. 

Adjusted net loss was $197.3 million versus an adjusted net loss of $176.5 million in the second quarter of 2018.

Revenue to be between $3.47 billion and $3.5 billion (up from $3.275 billion and $3.3 billion)

    Annual growth rate to be between 61% and 62% (up from 52% and 53%) 

    Lyft market cap 15bn, uber 60bn

Apple TV+ same name?!:

https://www.polygon.com/2019/8/20/20813637/apple-tv-plus-launch-date-pricing-streaming-service

Instagram shopping:

https://edition.cnn.com/2019/08/19/tech/instagram-checkout-feature-hackers/

PUBG Changes:

https://www.polygon.com/2017/11/22/16690874/pubg-tencent-publishing-deal-socialist-values-playerunknowns-battlegrounds

Usually, the last surviving player on the battlefield will receive the victory message: “Winner, Winner, Chicken Dinner.” Now, the last five players will be named the winner of the game. If players make it to the top five, the game will post a message to users informing them that they’ve already won, and will ask whether they would like to continue.

-tencent changes to publish pubG in china

Defense, Freight & Logistics:

Uber Freight continues to add new customers: Uber Freight added new shipping customers across the enterprise, middle market, and small- and medium-sized business segments. Our platform for shippers targets the underserved long tail of small shippers with an automated self-serve tool that helped drive 10X year-over-year revenue on the platform.

PDD Earnings:

https://www.investors.com/news/technology/pinduoduo-earnings-second-quarter-stock/

Founded 2015,

$878mm revenue expected, $1.06bn revenue actual

$103bn gmv

$83bn gmv, q1

25% growth

http://investor.pinduoduo.com/financial-information/quarterly-results