Following in Lyft's Footsteps, Uber Sets Profitability Timeline
A couple of weeks ago, No. 2 ridesharing player Lyft (NASDAQ: LYFT) said it was hoping to become profitable just two years from now. CEO Logan Green made the announcement at a tech conference, but it's important to recognize that Green was referring to adjusted EBITDA profits instead of GAAP profits. Larger ride-hailing leader Uber (NYSE: UBER) reported third-quarter earnings Monday night and has now set out a comparable time frame to become profitable, also on an adjusted EBITDA basis.
Here's what investors need to know about Uber's path to profitability.
Image source: Uber.
Source Fool.com
