Latest Breaking News and Headlines

Uber Expects to Turn A Profit for the First Time in Ten Years

0 36,382

More than a decade after creating the audio-sharing platform, Uber expects to make a profit from its core business for the first time. It concerns the gross result (EBITDA) in the third quarter, without many costs.


Expanding globally, Uber has burned billions of dollars in recent years with the promise of turning a profit later. This week, the American company announced that it had written black numbers in the months of July and August, without interest, taxes or depreciation.

According to financial director Nelson Chai, the company is therefore on track to get out of the loss zone in the third quarter. But the forecast was formulated extremely cautiously, with an EBITDA between -25 million dollars and 25 million dollars in the plus.

In the past quarter, Uber already made a profit of 1.1 billion dollars, but that was entirely due to the increase in the value of a number of participations, such as those in the Chinese Didi or the robot car maker Aurora. Without those one-time elements, Uber would have lost $700 million.

Since the corona pandemic, the group has benefited from the increased demand for meal deliveries. As a result, that pillar (Uber Eats) is becoming increasingly important.

Leave A Reply