Uber's Postmates Acquisition Might not Deliver the Profitability Expected
Uber Technologies' (NYSE: UBER) $2.6 billion buyout of Postmates might not generate the kinds of profits investors were expecting. In a filing with the Securities and Exchange Commission, Uber said Postmates has an accumulated deficit of nearly $1 billion, meaning even a pandemic-fueled increase in demand saw the food delivery specialist recording losses of $32 million in the second quarter.
Image source: Postmates.
Source Fool.com
