This week, companies from various industries are expected to report their quarterly earnings. What can be expected from the upcoming earnings announcements and what might this reflect about the state of the economy?
Following the publication of a new proposal that may increase labour costs for ride-sharing apps like Uber and Lyft, the shares of the two showed significant drops.
Major firms in the entertainment, exercise, and ride-sharing sectors are expected to reveal how their last quarter went this week. Traders might be anticipating these quarterly earnings releases to get a sense of where Disney, Peloton, Uber, and Lyft are headed in 2022.
Uber announced Q1 earnings yesterday and showed mixed results, with better than expected earnings, but a miss on revenue predictions. Gross bookings, which include both passenger related and food-related orders, were at an all-time high.
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