What's Going On With Uber Technologies Shares Friday?

Zinger Key Points
  • Recently, Uber partnered with The Vitamin Shoppe for nationwide delivery, expanding access to health and wellness products via Uber Eats.
  • Collaborations with Acadia Healthcare and focus on Uber Freight growth underline Uber's diversification beyond ride-hailing.

Uber Technologies, Inc. UBER shares are trading higher in the morning session on Friday.

Yesterday, the company entered into a new nationwide partnership with The Vitamin Shoppe, bringing the New Jersey-based health and wellness retailer’s selection to the Uber Eats app.

About 700 locations of The Vitamin Shoppe and Super Supplements are now available for ordering on Uber Eats across the U.S.

Read More: Health On Demand: Uber Eats Partners With The Vitamin Shoppe

Earlier this month, Uber Health collaborated with Acadia Healthcare Company, Inc. ACHC to improve access to life-saving behavioral health care and addiction treatment.

The companies will initially focus on Acadia’s national Comprehensive Treatment Centers (CTCs) network, which will provide medication-assisted treatment (MAT) in combination with counseling and behavioral therapies for those struggling with opioid addiction. 

The collaboration will provide patients with transportation to begin treatment quickly and efficiently. Acadia and Uber Health plan to roll out the program to 19 facilities across several states.

Related: Breaking Barriers: Uber Health And Acadia Healthcare Partner To Enhance Behavioral Health Access

Last month, the company’s smaller segment Uber Freight was in the headlines for aggressively pursuing growth in Europe’s diverse logistics sector, targeting a tenfold increase in its freight management to 2 billion euros by 2028 through a comprehensive digital platform that oversees companies’ entire supply chains. 

Check This OutUber Freight Targets European Market For 10X Expansion Push By 2028

In February, Uber reported fourth-quarter fiscal 2023 revenue growth of 15% year-on-year to $9.94 billion, beating the consensus of $9.76 billion. 

Uber’s GAAP EPS of 29 cents beat the consensus of 17 cents. Trips grew 24% year-over-year to 2.60 billion, equivalent to 28 million per day. 

Investors can gain exposure to Uber via First Trust US Equity Opportunities ETF FPX and Global X Millennial Consumer ETF MILN.

Price Action: UBER shares are trading higher by 2.369% to $76.69 on the last check Friday. 

Photo via Shutterstock

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