Suncoast Exits Uber After Soft Third-Quarter Outlook
The investment strategy cited strong operating growth but said Uber’s third-quarter earnings guidance came in modestly below expectations.
Key takeaways
- Suncoast’s growth strategy said it sold its Uber position after second-quarter results.
- The letter cited 24% growth in gross bookings and 33% growth in operating profits.
Suncoast Equity Management’s U.S. Equity Large Cap Select Growth Strategy said it sold its Uber Technologies position after the company’s second-quarter results, using the proceeds to increase its ASML holding.
In its Q3 2026 investor letter, the strategy described Uber’s operations as solid: gross bookings grew 24% and operating profits rose 33%. But it said the company’s third-quarter earnings guidance was modestly below expectations.
The strategy said Uber was performing roughly in line with its investment thesis, but it viewed ASML as more attractive. As of 15:33 UTC on Oct. 8, Uber shares traded at $68.35, down 0.15% since the previous close.
This article was produced with the help of AI technology. Source: Yahoo Finance
