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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