Uber posted record operating income of $1.06 billion, signaling profitability growth, yet it faced weaker-than-expected ride bookings and currency headwinds impacting the rideshare business.
Despite achieving a record operating profit, Uber's gross bookings of $41 billion were slightly below the mid-point of its guidance and analysts' estimates, indicating ongoing challenges.
CEO Dara Khosrowshahi highlighted Uber's investments in new transportation options and its efforts to reach diverse customer demographics, aiming to enhance growth in the rideshare market.
The company’s fourth-quarter forecast of $42.75 billion to $44.25 billion in bookings slightly missed Wall Street expectations, resulting in a 6% drop in shares post-announcement.
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