Uber Technologies Inc. shares were heading lower in choppy premarket trading Tuesday after the ride-hailing company posted a mixed earnings report.
Chief Financial Officer Nelson Chai said in prepared remarks that the company saw a $521 million hit to revenue stemming from “certain business-model changes” that required the company to reclassify some promotions as contra-revenue items, rather than as sales and marketing expenses, although the changes didn’t impact profits.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Tripadvisor’s stock jumps 9%, company’s quarterly sales rose 16%Claudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter ClaudiaAssisMW.
Source: MarketWatch - 🏆 3. / 97 Read more »
WeWork stock still halted for news, with no release or comment from the companyTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Source: MarketWatch - 🏆 3. / 97 Read more »
Uber Q3 Earnings: Top-Line Growth, Profitability Could Propel Stock to New HighsStocks Analysis by Investing.com (Damian Nowiszewski) covering: Uber Technologies Inc, LYFT Inc. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »
This Israeli company is building a road that charges electric vehicles in DetroitLater this year, Israeli company Electreon and Michigan will unveil a 1-mile stretch of road in Detroit that will allow drivers to charge EVs on the go.
Source: therealautoblog - 🏆 528. / 51 Read more »
Disney’s New CFO Brings Experience to Company’s Activist Investor BattleHugh Johnston served as Pepsi’s chief financial officer when the company faced calls for a breakup from activist Nelson Peltz
Source: WSJ - 🏆 98. / 63 Read more »
Embracer Group COO Has Left the CompanyEmbracer COO Egil Strunke says the company has a 'bright future' in departure letter.
Source: ComicBook - 🏆 65. / 68 Read more »