“What we’re looking for is continued expansion beyond food,” said Ron Josey, an analyst at JMP Securities. “The battleground that’s developing is to get anything delivered within an hour or two.”
“The hyper growth is likely over,” Mandeep Singh, an analyst at Bloomberg Intelligence, wrote in July. Uber posted its first net profit as a public company in the second quarter. Income of $1.1 billion was driven in large part by Uber’s stock in Didi Global Inc., China’s largest ride-hailing company, which went public in June. Since then, the shares have declined 30% after Beijing launched an inquiry into the company and removed Didi from Chinese app stores.
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