3 Reasons Uber's Profit Growth Trend Will Persist
Technically speaking, Uber Technologies (NYSE: UBER) dished out disappointing third-quarter numbers. While profits rolled in better than some estimates (yet missed others), revenue of $9.3 billion fell short of the consensus for $9.5 billion.
Uber shares rallied anyway following Tuesday morning's release of its Q3 results, however, as investors were encouraged by the company's fiscal trajectory. Bookings were up 21% year over year. Revenue still grew 10% on a constant-currency basis. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) nearly doubled. Operating cash flow more than doubled. And, oh yeah, Uber's bottom line continues to swell following its second-quarter swing to a profit.
Investors should expect all of these growth trends to persist, too, for a trio of reasons.
Source Fool.com
Uber Technologies Inc Stock
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