Uber Technologies Inc. spooked investors with a midterm earnings forecast that fell short of expectations and overshadowed the company’s pledge to be cash-flow positive by the end of this year.
Chief Financial Officer Nelson Chai said Uber’s most closely watched earnings metric—adjusted earnings before interest, taxes, depreciation and amortization—would come in at roughly $5 billion in 2024. That would mark a big turnaround from the $774 million loss that the company posted by that measure in 2021, but the forecast fell short of the $5.3 billion that analysts polled by FactSet were expecting. Investors look at the metric to gauge the strength of a company’s underlying operations.
Source: https://www.wsj.com/articles/uber-expects-to-be-cash-flow-positive-by-fourth-quarter-of-2022-11644512326?mod=itp_wsj&yptr=yahoo
Uber’s New Earnings Outlook Leaves Investors Hungry for More
Uber Technologies Inc. spooked investors with a midterm earnings forecast that fell short of expectations and overshadowed the company’s pledge to be cash-flow positive by the end of this year.
Chief Financial Officer Nelson Chai said Uber’s most closely watched earnings metric—adjusted earnings before interest, taxes, depreciation and amortization—would come in at roughly $5 billion in 2024. That would mark a big turnaround from the $774 million loss that the company posted by that measure in 2021, but the forecast fell short of the $5.3 billion that analysts polled by FactSet were expecting. Investors look at the metric to gauge the strength of a company’s underlying operations.
Source: https://www.wsj.com/articles/uber-expects-to-be-cash-flow-positive-by-fourth-quarter-of-2022-11644512326?mod=itp_wsj&yptr=yahoo