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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Futures Waver, UBS Posts a LossStock futures ticked lower early Tuesday. Investors got updates from UBS and Saudi Aramco.
Source: WSJ - 🏆 98. / 63 Read more »

Stock market today: Wall Street closes its best week of the year with even more gainsAsian shares have advanced following Wall Street gains last week that were buoyed by hopes for early interest rate cuts. South Korea's Kospi jumped more than 4% after the government restored a ban on short-selling that had been lifted since May 2021. Japan's benchmark was up 2.4%.
Source: AP - 🏆 728. / 51 Read more »

Stock Market Today: Stocks extend run as markets see Fed rate cuts on the horizionStocks will enter this week much as they ended last, with investors looking for Fed rate cuts amid a modestly slowing economy and a cooling labor market.
Source: startelegram - 🏆 248. / 63 Read more »

Stock Market News Today: Dow, S&P 500 Slip; Tesla, WeWork Stocks in FocusLive coverage of stocks and financial news, including the S&P 500, Dow and Nasdaq Composite.
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market Today: Dow ends higher, but rising Treasury yields keep lid on gainsStock Market Today: Dow ends higher, but rising Treasury yields keep lid on gains
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Stocks slide, Treasury yields rise as bears test peak rate betsStocks are closely tracking Treasury yields Tuesday, ahead a key three-day run of new bond auctions, as markets test recent bets on peak Fed rates.
Source: startelegram - 🏆 248. / 63 Read more »