forecast fourth-quarter adjusted core profit and gross bookings above market expectations on Tuesday, betting that the holiday season would boost demand for its ride-hailing and food-delivery services.
Uber shares fell as much as 7 per cent in premarket trading following the results before gaining 1.5 per cent. Uber expects adjusted core profit, a key profitability measure, between $1.18-billion and $1.24-billion. Analysts expected $1.15-billion, LSEG data showed. “This trend continued into the fourth quarter as we achieved all-time highs in October for overall trips and gross bookings, driven by strength across both mobility and delivery.”
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