Reported about 4 hours ago
Uber reported lower-than-expected operating profit and a cautious earnings forecast for the upcoming holiday quarter, primarily due to undisclosed legal expenses. Despite a strong demand for rides and food deliveries, the company's shares plunged nearly 9% in early trading. CEO Dara Khosrowshahi highlighted the positive impact of the Uber One membership program on customer engagement, while the delivery segment outperformed expectations with a 29% sales increase. However, overall operating income fell short of estimates, and the company announced a shift in its profit reporting approach for next year.
Source: YAHOO