Ygal Arounian

Ygal Arounian is a managing director and equity research analyst at Wedbush Securities, covering internet companies including mobility and delivery platforms such as Uber.

Uber Delivery Growth Offsets Softer Rides Results

Uber’s third-quarter results showed delivery growth helping offset a softer rides business: delivery gross bookings rose 23% year over year, while mobility came in slightly below expectations. Ygal Arounian, a managing director at Wedbush, called the report solid, saying driver-supply constraints—not weakening demand—accounted for the rides shortfall. He also argued that Uber can compete in grocery delivery despite DoorDash’s planned acquisition of Instacart, because grocers will want access to multiple platforms.

Bloomberg TechnologyNov 5, 20263 min read