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  "documentTitle": "Uber Technologies (UBER)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square",
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  "presentationDate": "2025-02-01 00:00:00",
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      "kind": "callout",
      "text": "We believe the long-term risk from AVs is limited and estimate that Uber's share price is likely to more than double over the next 3 to 4 years",
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      "text": "We believe the long-term risk from AVs is limited and estimate that Uber’s share price is likely to more than double over the next 3 to 4 years",
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      "text": "World's leading rideshare (mobility) and delivery (Uber Eats) marketplace\nUber's business model has strong network effects that reinforce supply and demand growth\nGross bookings (trip value) of ~$160bn is split between mobility and delivery\nIndustry-leading management team, led by Dara Khosrowshahi, has vastly improved operational discipline and capital allocation\nManagement targets imply +30% annual EPS growth over the next several years driven by mid-to-high-teens revenue growth, robust margin expansion, and share repurchases\nCurrently trading at 29x P/E due to concerns regarding the potential long-term threat from autonomous vehicles (AVs)",
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      "text": "EPS growth: +30%",
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      "text": "Uber\nTicker: UBER\nStock Price: $79\nMarket Cap: $168bn",
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      "text": "Source: Company filings and Pershing Square estimates. This slide contains Pershing Square's own views and opinions, based on publicly available information, to illustrate Pershing Square's thinking on the matters therein.",
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      "text": "New Investment in Uber Technologies (\"UBER\")",
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