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Uber expects to record breakeven adjusted EBITDA in current quarter

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Uber expects to record breakeven adjusted EBITDA in current quarter

(Reuters) – Uber Inc expects to record breakeven in a key measure of profitability in the current quarter, its chief financial financial officer said, sending the ride hailing firm’s shares up nearly 7% in premarket trading.

“With positive adjusted EBITDA in July and August, we believe Uber is now tracking towards adjusted EBITDA breakeven in Q3, well ahead of our prior guidance,” said CFO Nelson Chai. (https://bit.ly/3EA2nlD)

(Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli)



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