Uber Reaches Fork In The Road, Turns Down Profitability Street: 'We Plan To Be Profitable For Every Quarter Going Forward'
Portfolio Pulse from Adam Eckert
Uber Technologies Inc. reported its Q2 results, missing the consensus revenue estimate of $9.32 billion with a reported revenue of $9.23 billion. However, the company reported its first GAAP operating profit and its highest free cash flow of $1.1 billion. CEO Dara Khosrowshahi stated that the company plans to be profitable every quarter going forward.
August 04, 2023 | 9:39 am
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Uber's Q2 results showed a miss on revenue estimates but a first-time GAAP operating profit. The company's shares initially traded higher but later pulled back.
Uber's Q2 results showed a mixed picture with a miss on revenue estimates but a first-time GAAP operating profit. This could lead to uncertainty in the market, causing initial positive reaction followed by a pullback. The company's future profitability plans could potentially stabilize the stock in the long run.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100