Finances

Uber Technologies, Inc. (UBER) announced its third quarter earnings report on Tuesday, November 4. While the ridesharing company reported revenue that topped analysts’ expectations for the quarter, the company’s shares decreased 5% following the report’s release.

Revenue came in at $13.47 billion for the quarter, up 20% from $11.19 billion during the same quarter last year. This was above analysts’ expectations for revenue of $13.28 billion for the quarter.

“Uber’s growth kicked into high gear in Q3, marking one of the largest trip-volume increases in the company’s history,” said Uber’s CEO, Dara Khosrowshahi. “We are building on that momentum by investing in lifelong customer relationships, leaning into our local commerce strategy, and harnessing the transformative potential of AI and autonomy.”

The company posted net income of $6.63 billion or $3.11 per adjusted share for the quarter. This was up from $2.61 billion or $1.20 per adjusted share at this time last year.

During the third quarter, Uber reported 3.5 billion trips, a 22% increase year-over-year. Gross bookings rose by 21% to $49.7 billion compared to the same quarter last year. Uber’s Monthly Active Platform Consumers (MAPCs) segment also saw growth of 17% year-over-year with monthly trips per MAPC increasing by 4%. For the fourth quarter of fiscal year 2025, the company anticipates gross bookings to rise 17% to 21%.

Uber Technologies, Inc. (UBER) shares ended the week at $91.99, down 6% for the week.

McDonald’s Releases Earnings Report

McDonald’s Corporation (MCD) released its third quarter earnings report on Wednesday, November 5. Despite the fast-food conglomerate posting weaker-than-expected revenue in the quarter, shares were up more than 3% following the release of the report.

The company reported revenue of $7.08 billion for the quarter. This was up from $6.87 billion in the same period last year but missed analysts’ expectations of $7.10 billion.

“We increased global Systemwide sales by 6% and grew comp sales across all segments, a testament to our ability to deliver sustainable growth even in a challenging environment,” said McDonald’s CEO, Chris Kempczinski. “We are fueling momentum by delivering everyday value and affordability, menu innovation, and compelling marketing that continue to bring customers through our doors.”

Net income for the quarter came in at $2.28 billion or $3.18 per adjusted share. This was an increase from $2.26 billion or $3.13 per adjusted share during the same quarter last year.

During the quarter, McDonald’s global comparable sales increased by 3.6%. U.S. comparable sales also increased 2.4% due to positive check growth. The International Operated Markets segment saw sales increase 4.3%, driven by positive results in comparable sales across Germany and Australia. The number of systemwide sales to loyalty members reached over $9 billion for the quarter. McDonald’s Board of Directors announced a quarterly cash dividend of $1.86 per share of common stock, payable on December 15, 2025, to shareholders of record on December 1, 2025.

McDonald’s Corporation (MCD) shares ended the week at $299.66, relatively unchanged for the week.

DoorDash Reports Results

DoorDash, Inc. (DASH) released its third quarter earnings report on Wednesday, November 5. The food delivery company’s shares decreased by over 12% after reporting better-than-expected revenue for the quarter.

Net revenue for the quarter came in at $3.45 billion, up 25% from $2.71 billion in net revenue at this time last year. This exceeded analysts’ expectations of $3.37 billion in net sales.

“Our 2026 plans are still being finalized, but we currently expect to invest several hundred million dollars more in new initiatives and platform development in 2026 than we did in 2025,” the company stated in its earnings release. “We wish there was a way to grow a baby into an adult without investment, or to see the baby grow into an adult overnight, but we do not believe this is how life or business works. Instead, we attempt to invest in a way that manages to milestones, allocating the appropriate amount of time and resources at the right stage of development.”

The company posted net income of $244 million for the quarter or $0.55 per diluted share. This was an improvement from a net income of $162 million or $0.38 per share during the same quarter last year.

DoorDash reported a 21% rise in total orders year-over-year to 776 million compared to the prior year. Marketplace Gross Order Value (GOV), which is the total value of marketplace orders, increased by 25% to $25 billion, which was driven by strong growth in monthly active users, average order frequency and order values. For the fourth quarter of fiscal 2025, DoorDash expects Marketplace GOV to be between $28.9 billion and $29.5 billion.

DoorDash, Inc. (DASH) shares ended the week at $204.31, down 20% for the week.

The Dow started the week at 47,697 and closed at 46,987 on 11/7. The S&P 500 started the week at 6,882 and closed at 6,729. The NASDAQ started the week at 23,952 and closed at 23,005.

U.S. Treasury yields rose midweek as markets reacted to the latest economic data for the service industry indicating expansion in October. Yields trended downward toward the end of the week despite the latest job data showing a slight stabilization in the job market.

On Wednesday, the Institute for Supply Management (ISM) released its purchasing manager’s index (PMI) for October, indicating growth in the service industry. The PMI measures the change in economic activity in the services sector and is used as an indicator of U.S. economic activity. The PMI for October was 52.4%, up from a PMI of 50.0% in September and above analysts’ forecast of 50.5%.

“October's Services PMI® is a continuation of a downward trend of more than 10 percentage points in the 12-month average since February 2022, when it was 62.6%,” said chair of the ISM survey, Steve Miller. “Respondents continued to mention the impact of tariffs on prices paid. There was no indication of widespread layoffs or reductions in force, but the federal government shutdown was mentioned several times as impacting business activity and generating concerns for future layoffs.”

The benchmark 10-year Treasury note yield opened the week of November 3 at 4.08% and traded as high as 4.17% on Wednesday. The 30-year Treasury bond opened the week at 4.66% and traded as high as 4.75% on Wednesday.

On Wednesday, ADP reported that private sector jobs rose in October, indicating a resilient labor market. The payroll processing company detailed that private sector businesses added 42,000 jobs in October, rebounding from a previously reported loss of 29,000 jobs in September and surpassing Wall Street’s expectations of an increase of 22,000 jobs. ADP also revised its September estimate, indicating 3,000 fewer jobs lost for that month.

“Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year,” said chief economist at ADP, Dr. Nela Richardson. “Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced.”

The 10-year Treasury note yield finished the week of 11/3 at 4.10%, while the 30-year Treasury note yield finished the week at 4.71%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, November 6. The survey showed mortgage rates rising after dropping for four consecutive weeks.

This week, the 30-year fixed rate mortgage averaged 6.22%, up from last week’s average of 6.17%. Last year at this time, the 30-year fixed rate mortgage averaged 6.79%.

The 15-year fixed rate mortgage averaged 5.50% this week, up from last week’s 5.41%. During the same week last year, the 15-year fixed rate mortgage averaged 6.00%.

“This week the 30-year fixed-rate mortgage averaged 6.22%,” said Freddie Mac’s Chief Economist, Sam Khater. “On a median-priced home, this could allow a homebuyer to save thousands annually compared to earlier this year, showing that affordability is slowly improving.”

Based on published national averages, the savings rate was 0.40% as of 10/20. The one-year CD averaged 1.68%.

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