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Uber Faces a Stark Choice Amid Mixed Third Quarter Earnings – Show Profitability Soon or Go Extinct Dodo Bird Style

Uber Faces a Stark Choice Amid Mixed Third Quarter Earnings – Show Profitability Soon or Go Extinct Dodo Bird Style

5 years ago
Anonymous $xdcOWPpsb_

https://wccftech.com/uber-faces-a-stark-choice-amid-mixed-third-quarter-earnings-show-profitability-soon-or-go-extinct-dodo-bird-style/

Uber (NYSE:UBER), the American multinational ride-sharing company, posted mixed results for the third quarter of 2019. The company beat EPS expectations but gross bookings – a closely watched measure of the total amount customers paid to the platform before factoring in drivers’ pay and other fees – came up short of estimates.

“Our results this quarter decisively demonstrate the growing profitability of our Rides segment. Rides Adjusted EBITDA is up 52% year-over-year and now more than covers our corporate overhead. Revenue growth and take rates in our Eats business also accelerated nicely. We’re pleased to see the impact that continued category leadership, greater financial discipline, and an industry-wide shift towards healthier growth are already having on our financial performance,” said Uber’s CEO Dara Khosrowshahi.

Uber Faces a Stark Choice Amid Mixed Third Quarter Earnings – Show Profitability Soon or Go Extinct Dodo Bird Style

Nov 4, 2019, 11:16pm UTC
https://wccftech.com/uber-faces-a-stark-choice-amid-mixed-third-quarter-earnings-show-profitability-soon-or-go-extinct-dodo-bird-style/ > Uber (NYSE:UBER), the American multinational ride-sharing company, posted mixed results for the third quarter of 2019. The company beat EPS expectations but gross bookings – a closely watched measure of the total amount customers paid to the platform before factoring in drivers’ pay and other fees – came up short of estimates. > “Our results this quarter decisively demonstrate the growing profitability of our Rides segment. Rides Adjusted EBITDA is up 52% year-over-year and now more than covers our corporate overhead. Revenue growth and take rates in our Eats business also accelerated nicely. We’re pleased to see the impact that continued category leadership, greater financial discipline, and an industry-wide shift towards healthier growth are already having on our financial performance,” said Uber’s CEO Dara Khosrowshahi.