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Uber CEO is 'very confident' the company will become profitable next year

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Uber, 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.

. Uber said it will also bolster its Uber Eats delivery unit, bringing in key markets like Los Angeles, Phoenix and Las Vegas and 10 million active customers.

"We want to get bigger in the category, and really scale is how you bring the category into profitability," Khosrowshahi said. While the company's food-delivery business is thriving in the pandemic, its core Rides business has slowed down significantly from last year. But that slowdown is moderating -- Uber CEO

said in a call with investors after the Postmates transaction that gross bookings in the Rides business were down 75% from last year in the second quarter, but are now down only 60%.

 

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😂 good one

They say this every year. He means adjusted (aka bullshitted) EBITDA profitability.

Same thing he said LAST YEAR !! 😂😂😂

Next year, but next year never comes. You have a shitty business model with a shitty system that requires some bigger fool to always come along. Slave labor doesn't work for long in the US.

After he gets 500 million salary may be

Cloud kitchen is the next big thing, hope they focus on it

Lol

A screaming buy at these cheap levels !!

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