NEW YORK - Uber Technologies on Monday posted a wider third-quarter loss as costs soared at the ride-hailing company, sending shares down 4.4 per cent in after-hours trading.
Uber chief executive Dara Khosrowshahi told journalists on a conference call that the company would achieve adjusted EBITDA profitability for the full year of 2021. The move follows a similar announcement by smaller ride-hailing competitor Lyft on Wednesday. "Another quarter with more than a billion in losses, but I'm unsure why anyone would be surprised by that," said Clement Thibault, analyst at investing.com."Uber has done nothing but log losses so far," he said, adding that the results"change neither the bull nor the bear thesis on the company."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OCBC Q3 profit dips 6% to S$1.17b on one time chargeOCBC Bank’s net profit slipped 6 per cent to S$1.17 billion for its third quarter ended Sept 30, from S$1.25 billion a year ago after booking a one-off charge at its Indonesian banking unit. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Uber misses on riders, beats revenue estimates as lockup expiry loomsUber Technologies Inc on Monday beat Wall Street estimates for third-quarter revenue, as more people used its ride-hailing and Uber Eats ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Uber beats third-quarter revenue estimatesUber Technologies Inc on Monday beat Wall Street estimates for third-quarter revenue, as more people used its ride-hailing and Uber Eats ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Uber posts wider quarterly loss as costs rise, shares drop nearly 7per centUber Technologies Inc on Monday beat Wall Street estimates for third-quarter revenue, as more people used its ride-hailing and Uber Eats ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Uber posts wider quarterly loss as costs rise, shares drop nearly 7per centUber Technologies Inc on Monday (Nov 4) posted a wider third-quarter loss as costs at the ride-hailing company soared, sending shares down 6.7 per ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Uber posts wider quarterly loss as costs rise, shares drop nearly 7per centUber Technologies Inc on Monday beat Wall Street estimates for third-quarter revenue, as more people used its ride-hailing and Uber Eats ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »