Uber announces its first positive gross operating income
Uber Technologies published its first positive quarterly gross operating surplus since its inception more than ten years ago. Its two main activities, car driver services and meal delivery, benefited from favorable economic conditions, Reuters said.
In the third quarter, Uber reported adjusted profit before tax, finance charges, depreciation and amortization (EBITDA) of $8 million, compared to a loss of $625 million for the corresponding period last year.
Uber Technologies reported its first positive quarterly gross operating profit since its inception more than a decade ago, as its two main businesses, car driver services and meal delivery, benefited from favorable economic conditions.
Its revenue grew 72% year over year to $4.8 billion.
However, stocks in the American company receded nearly 3% in non-session trading after the close of Wall Street, investors sanctioning a net loss of $2.4 billion (2.08 billion euros) linked to the devaluation of its stake in the Chinese Didi and its forecasts for the fourth quarter, lower than expectations.