News Analysis
Uber Technologies is becoming more profitable. However, it still strives to please Wall Street, which pays close attention to bookings and the quality of earnings.
On the morning of Oct. 31, the ride-hailing company reported earnings of $2.61 billion for the third quarter ended Sept. 30, up from $1 billion in the previous quarter. Revenues came at $11.19 billion, up from $10.7 billion in the previous quarter.
Management was pleased with the results.
“We delivered yet another record quarter of profitable growth at a global scale, reflecting the strength of our platform, which now has over 25 million Uber One members,” Uber CEO Dara Khosrowshahi in a statement accompanying the earnings release….