202121 Sep

Uber shares up 6% as it revises its outlook higher

Summary

Uber on Tuesday revised its financial outlook for the third quarter, with bookings and adjusted earnings now expected to be better than first reported. "They say that crisis breeds opportunity and thats certainly been true of Uber during the last 18 months," Uber CEO Dara Khosrowshahi said in the filing. Shares of the company were up around 6% in the premarket trade on the New York Stock Exchange. It also said it now expects adjusted EBITDA (which refers to earnings before interest, taxes, depreciation and amortization) to come in between a loss of $25 million or a profit of $25 million. Uber previously said it expected its adjusted EBITDA for the third quarter to be better than a loss of $100 million.

Source: Cnbc

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