UBS: Bullish on the third-quarter reports of the two major ride-hailing giants, but prefers Uber.

According to the Zhongtong Finance APP, the two major ride-hailing giants, Uber (UBER.US) and Lyft (LYFT.US), will release their quarterly earnings reports on November 7th and November 8th. UBS has a positive view on their performance. However, UBS also points out that both companies' price-to-earnings ratios are at risk of decline due to the overall macro pressure in the internet industry. Compared to Lyft, they have a more favorable outlook for Uber's future.The market generally expects Uber's earnings per share to be $0.12 with revenue of $9.54 billion. In the same period last year, the company had an earnings per share of -$0.61 and revenue of $8.34 billion. In the previous quarter, Uber's revenue exceeded expectations.UBS believes that Uber is expected to provide more details on capital returns and profitability achieved in the past 12 months in its earnings report, which will help the company be included in the S&P 500 index by the end of this year.As for Lyft, the market expects its earnings per share to be -$0.18 with revenue of $1.14 billion. In the third quarter of 2022, its earnings per share were -$1.18 with revenue of $1.05 billion.UBS warns that Lyft's gross margin and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) may be difficult to meet market expectations next year, so it has lowered its gross margin forecast. However, they also believe that Lyft's operating expenses are expected to decrease, partially offsetting the impact of declining profits.In addition, UBS also commented on the food delivery platform DoorDash (DASH.US), which will release its earnings report on November 1st. UBS expects the company's profits and revenue to exceed market expectations. Seaport Research, on the other hand, gives the company a "neutral" rating.Furthermore, UBS stated, "Currently, the market's concerns about GLP-1 drugs are excessive. However, if more people use these drugs in the future and the availability and cost of the drugs decrease, in the long term, if GLP-1 drugs can help more people succeed in losing weight, they may reduce the demand for ride-hailing services and be more inclined to walk or ride bicycles. Therefore, these drugs may pose a threat to the ride-hailing industry."