After LYFT’s solid report (and share price gains), UBER is tanking after-hours despite reporting its first positive EBITDA (+$8mm) , boosted by a recovery in ride-hailing and sustained demand in its delivery business. “While we recognize it’s just a step, reaching total-company adjusted Ebitda profitability is an important milestone for Uber,” Chief Financial Officer Nelson Chai said in statement. Revenue rose 72% to $4.8 billion (beating the $4.4 billion analysts had projected). Gross bookings missed expectations ($23.1bn vs $23.3bn exp) and will be $25 billion to $26 billion, about in line with estimates.
But critically, the company said adjusted earnings […]
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