Ackman’s comments came shortly after Uber reported its fourth and final quarter 2024 financial results, as well as its full-year results.
As of today, Pershing Square holds 30.3 million shares of the mobility and delivery company, valued at more than $2 billion . In other words, it holds more than 1% of all outstanding shares .
Through his X account, Ackman, who is one of the richest men in the world with a fortune of US$ 7.97 billion, revealed that he is betting heavily on Uber due to the strength of its management and its low market price .
«We believe Uber is one of the best-managed and highest-quality companies in the world ,» the entrepreneur wrote. «Interestingly, it can still be purchased at a massive discount to its intrinsic value. This favorable combination of attributes is extremely rare, particularly for a large-cap company ,» he added.
Ackman’s comments came shortly after Uber reported its fourth and final quarter 2024 financial results , as well as its full-year results.
Specifically, it recorded revenues of US$11,959 million in the quarter , 20% more than in the same period of the previous year, and a net profit of US$6,883 million , which implied a year-on-year growth of 382%.
Thus, in 2024, its sales rose by 18% to US$ 43,978 million, net profit jumped by 422% to US$ 9,856 million and gross reserves by 18% to US$ 162,773 million.
«Our performance was driven by rapid innovation and execution on multiple priorities, including the massive opportunity presented by autonomous vehicles. We enter 2025 with clear momentum and will continue to be relentless about our long-term strategy ,» said Dara Khosrowshahi , CEO of Uber.
