Why Uber Stock Jumped Today
Shares of Uber Technologies (NYSE: UBER) climbed 7.6% on Tuesday after the ridesharing titan raised its financial guidance.
For the first quarter, Uber now projects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) will land in the $130 million to $150 million range. That's up from its previous forecast of $100 million to $130 million.
Notably, Uber disclosed in a filing that it was seeing positive trends in both its core ride-hailing business and its fast-growing food-delivery operation. The company said that for its mobility segment, February gross bookings -- essentially, the dollar value of transactions processed on its platform -- were 95% of the February 2019 (pre-pandemic) figure.
Source Fool.com
