Uber Technologies' stock gains on improved Q3 and Q4 outlook

seekingalpha2021-09-21

Uber jumped over 4% in premarket trading on guidingQ3 Gross Bookings between $22.8 B and $23.2B vs. prior $22B and $24B.

Adjusted EBITDA to be between -$25M to $25M  better than a prior outlook of loss of $100M with strong improvements in both Mobility and Delivery Adjusted EBITDA

For Q4, the company now expects to deliver Adjusted EBITDA between $0 and $100M.

“With positive Adjusted EBITDA in July and August, we believe Uber is now tracking towards Adjusted EBITDA breakeven in Q3, well ahead of our prior guidance,” said Nelson Chai, CFO. “We expect to deliver sequential Adjusted EBITDA improvement in Q4, even as we continue to invest in our growth initiatives.”

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