Stock Market Today: Dow Futures Waver, UBS Posts a Loss

Uber Technologies grew its rides and food-delivery businesses in the third quarter while posting its second-ever operating profit, as people continued to use its app to commute and order in. The company projected further growth in the current December quarter. Shares of Uber gained about 1% in premarket trading. Through Monday, the stock had risen 95% in 2023. Here is how Uber did in its September quarter: Gross bookings, or the value of transactions on its app, grew 21% year-over-year to $35.

Revenue–Uber’s company’s cut from those transactions–grew 11% to $9.29 billion. Analysts expected $9.54 billion. Uber said its revenue was hurt by an accounting change made in some countries that it operates in. Uber reported better-than-expected operating income, marking the second time the company was profitable by that measure since its inception in 2009. Uber’s money-making operations led it to post a net profit of $221 million compared with a loss of $1.

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