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| Hey Insiders — Today we're bringing you the latest on Uber's and JetBlue's earnings. Scroll down for the news on XPeng's sales performance. Let us know which areas you would like us to cover next. Thanks for reading! Nicolas
p/mobilitynerd | |
| 1 | | Uber reached profitability in Q2, reporting a $394M net income, up from a $2.6B net loss during the same period in 2022. The ride-hailing company generated $9.23B in revenue, up from $8B in Q2 2022. More: - Uber reported an increase of 12% YoY in monthly active platform consumers to 137 million.
- Trips increased by 22% YoY to 2.28 billion, up from 1.8 billion in Q2 2022.
- Mobility revenue was up 38% to $4.89B, while Freight decreased by 30% YoY to $1.27B.
- Uber experienced a 4% revenue growth in U.S. and Canada, reaching $5.12B.
- As of June 30, the company had $4.99B in cash and cash equivalents.
NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber. 
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| 2 | | JetBlue reported $138M in net income for the second quarter, up from a net loss of $188M in Q2 2022. The results were driven by a 6.9% YoY revenue growth in its passenger segment to $2.46B. More: - JetBlue's aircraft fuel and related expenses declined by 34.2% YoY to $599M, while its salary expenses rose 11.2% to $772M.
- In Q2, the airline carried 11.2 million passengers, up from 10.4 million during the same period in 2022.
- Aircraft utilization hours rose from an average of 10.4 hours per day in Q2 2022 to 11.3.
- JetBlue's departures rose by 6.7% to 89,036 during the second quarter, for a total of 176,517 in H1.
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| 3 | | Chinese electric vehicle manufacturer XPeng reported its sixth consecutive month of delivery growth, increasing by 28% MoM to 11,008 units in July. The automaker launched sales of the G6 Ultra Smart Coupe last month. More: - XPeng's deliveries were down 4% versus July 2022 levels.
- Its competitor, NIO, delivered 20,462 vehicles for 103.6% YoY growth.
- Li Auto, another Chinese EV company, delivered 34,134 vehicles for the month, increasing by 227.5% YoY.
- Market leader, BYD, delivered 262,161 'new energy vehicles' (including hybrids) in July.
- $XPEV was up 15.81% WoW following the news on Tuesday morning.
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| 4 | | Based on improved supply and orders, BMW revised its outlook for the year from 8% to 10% in EBIT margin to 9% to 10.5%. The automaker, however, warned that it projects continued supply chain challenges and inflation effects for H2. More: - In H1, BMW reported a preliminary EBIT margin of 12.6% for the company at-large and 10.6% for the automotive segment.
- In Q2, the automaker sold 626,726 vehicles, increasing by 11.3% YoY.
- BMW delivered 1.21 million vehicles in H1 across brands, including Mini and Rolls-Royce, constituting a 4.7% YoY growth.
- The company noted supply chain issues driven by the effects of the Ukraine War and lockdowns in China.
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| 5 | | According to the latest Air Travel Consumer Report by the Department of Transportation, Frontier Airlines is the carrier that involuntarily bumps the most passengers. The airline had a boarding denial rate of 3.73 passengers per 10,000 booked passengers between January and March. More: - Frontier was followed by Envoy Air with a boarding denial rate of 0.45 passengers per 10,000, PSA Airlines with 0.43, and American Airlines with 0.33.
- Delta Air Lines, Hawaiian Airlines, Allegiant Air, and Endeavor Air did not involuntarily bump any passengers during Q1.
- Low-cost carriers are eight times more likely to involuntarily deny boarding to passengers versus the next airline with the worst average.
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| 6 | | Ryder System announced the creation of a technology lab to automate manual tasks in favor of artificial intelligence. Ryder plans to leverage expertise from its acquisition of fleet management company Baton, completed in September 2022. More: - "Our real goal is to increase customer productivity and efficiency by overlapping their supply chains in a marketplace. That was the solution that Ryder saw we could already build, and they now want us to scale this across the business at a much larger scale," said Andrew Berberick, CPO at Ryder and Baton co-founder.
- The logistics company plans to use its decades of supply chain data to create large language models to offer as a solution for its customers.
- Ryder has spent $1.3B in technology strategic investments over the past five years.
- The lab has recruited engineers with pasts in organizations such as NASA's Jet Propulsion Laboratory, Tesla, Meta, and Apple.
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- Tesla and Ford are reportedly in talks with Exxon to procure lithium for EV batteries.
- Mazda is discontinuing the electric MX-30 for the U.S. market, focusing on hybrids instead for the 2024 lineup.
- Alaska Airlines revealed it will remove over 3,000 flights from its schedule in January.
- Toyota applied to obtain trademarks for TZ450e and TZ550e in the European Union and the U.K.
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 | Sr. Analyst | | Nicolas S. is a Sr. Analyst at Inside, covering transportation and startup trends. He is an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped startups. Follow him at @MobilityNerd. | | This newsletter was edited by Christopher Hachey | |
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