Uber Says It Will Become Profitable Next Year, Boosted By $2.65 Billion Postmates Acquisition

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After announcing its plan to buy Postmates for $2.65 billion, Uber says it’s confident that the acquisition will help it become profitable by 2021 by skleb1234

“We’re very confident we’re going to get to profitability next year and we have enough of a diversified portfolio to make that statement with quite a bit of confidence,” Uber CEO Dara KhosrowshahiUber’s stock has risen 7% since the company on Monday announced that it would buy food delivery service Postmates in an all-stock transaction,The deal merges the fourth-largest U.S.

Uber said in January that it expected to turn a profit on an Ebitda ; basis by the fourth quarter of 2020, but withdrew its guidance in May after the coronavirus pandemic wreaked havoc on the economy and led to business shutdowns. While Uber Eats bookings more than doubled in the second quarter amid higher demand during the pandemic, Uber’s core ride-sharing business has slowed dramatically. including Texas and Florida with many now pausing reopenings or reimposing lockdowns altogether—that’s bad news for Uber, which sees about 25% of its rides coming from commuters going to work, according to a report from BTIG last week.

 

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skleb1234

skleb1234 I gave my uber eats guy an $11 tip to pick up something 2 miles away. It was cold and an hour late. 2nd time this happened. Deleted the app

skleb1234 The evil parasites 1% propaganda

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Uber Says It Will Become Profitable Next Year, Boosted By $2.65 Billion Postmates AcquisitionUber’s CEO says the deal can help the ridesharing giant finally achieve profitability. Yeah me too
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Uber CEO is 'very confident' the company will become profitable next yearUber, which had expected to turn a profit by Q4 2020, withdrew its guidance in May as the Covid-19 pandemic continued to upend daily life. But its bet on the food delivery business could push it forward. A screaming buy at these cheap levels !! Lol Cloud kitchen is the next big thing, hope they focus on it
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