Breakingviews - Uber’s profitability rides on Eats
on Tuesday its adjusted EBITDA could be as much as $25 million in the third quarter, sending the company’s shares up more than 6% in morning trading. But the details are important, and they are not disclosed.
The pandemic threw off Uber’s profitability picture as the business of taxiing people around town was crimped. While Tuesday’s adjustment included commentary that both rides and food-delivery improved, the company run by Dara Khosrowshahi didn’t provide specific figures. Competition in food delivery has made it difficult to keep costs in line, and so Eats has been a drag on Uber . Despite the unit more than doubling revenue last quarter, it posted an adjusted EBITDA loss of $161 million. Rides earned $179 million even though revenue grew at a slower pace . Uber’s investors might welcome the profits, but as long as Eats putters along, its real potential is limited.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Queen's former royal chef explains why she rarely eats at banquetsDid you know the Queen rarely eats at royal banquets? Former royal chef Graham Tinsley explains why the monarch has such a small apetite
Read more »
Fox News Host Criticizes Joe Biden For ... Riding A BikeRachel Campos-Duffy called bike riding a 'senior break' while showing footage of the president exercising.
Read more »
Fellow Pickle People: Zha Cai Is Your New Favorite CondimentI eat this fermented mustard stem with noodles, in congee, and straight out of the bag.
Read more »
Traveling over the holidays? Here's how to stay safe from COVID-19The best way to mitigate any potential risk is by getting vaccinated, masking up, and resisting dropping your mask to eat or drink.
Read more »