  despite exceeding earnings expectations with a surprising 1900 gain and reporting pretax profits of 326 million £255 million ubers stock price declined by 568 on the day of the q2 earnings release uber technologies inc uber the renowned american ridehailing giant has achieved a significant milestone by reporting its first operating profit this accomplishment validates the companys successful transition into a profitable enterprise the latest financial results reveal pretax earnings of 326 million £255 million which is a remarkable improvement compared to the previous years operating loss of 713 million £558 million the companys turnaround can mainly be attributed to a surge in demand which resulted in a 22 increase in trips booked on the platform during the year through june ubers surprise profit announcement faced an unexpected reaction in the stock market despite surpassing expectations the stock price dropped 568 on the day of the q2 earnings release this highlights the unpredictable nature of financial markets where positive earnings dont always result in a rise in stock prices investors may find it perplexing that a company which exceeded earnings expectations by an impressive 1900 by surpassing estimated earnings of 001 with an actual result of 018 experienced a decrease in its stock value almost immediately however it is crucial to understand that stock prices do not always align with a companys earnings various factors such as market sentiment economic indicators and global events can influence the direction of a stocks movement the stock price of uber has reached a significant support level which is from the previous years high at 4590 although there has been a recent decrease the price usually respects important technical levels such as this one which can act as a foundation for upcoming trends the stock prices interaction with this particular zone could serve as a turning point for its future trajectory if it strongly rebounds from this level of support a significant upward move may be imminent and this will confirm the stocks strength and potential investors should remain wary of the notable resistance level that lies ahead the psychological milestone of 50 positioned just above the current price may hinder the upward trend investors often view price levels that end in round numbers as important reference points potentially triggering greater buying or selling activity and influencing the stocks trajectory ubers profitability and potential rebound make it an attractive opportunity if it surpasses the crucial 50 mark there is potential for a significant upward trend that could aim to reach the alltime high of 6405 a level not reached since february 2021 after the closing bell on tuesday august 1 the stock closed at 4665 trading down by 568