Uber Shares Rise on Brightened Profitability Outlook
September 21 2021 - 11:31AM
Dow Jones News
By Colin Kellaher
Shares of Uber Technologies Inc. rose more than 9% Tuesday after
the ride-hailing giant said it could reach a key measure of
profitability earlier than expected.
The San Francisco company said it expects to report
third-quarter adjusted Ebitda in the range of negative $25 million
to positive $25 million, and that it was tracking toward a
breakeven result.
The company in early August had said it expected third-quarter
adjusted Ebitda would be "better than a loss of $100 million."
Uber on Tuesday said it had achieved its first months of
adjusted Ebitda profitability in July and August, and that it
expects to post sequential improvement in the metric in the fourth
quarter.
Uber shares were recently up 9.1% at $43.42.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 21, 2021 11:16 ET (15:16 GMT)
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