Uber Technologies Inc.
UBER,
came up a bit shy with its third-quarter revenue Tuesday, and its shares were choppy in premarket action following the latest report. The company reported $221 million in net income, or 10 cents in earnings per share, whereas the company recorded a net loss of $1.2 billion, or 61 cents a share, in the year-earlier period. The FactSet consensus was for 7 cents a share in earnings. Revenue increased to $9.3 billion from $8.3 billion, whereas the FactSet consensus was for $9.5 billion. Gross bookings came in at $35.3 billion, while analysts had been expecting $34.6 billion. For the fourth quarter, Uber models $36.5 billion to $37.5 billion in gross bookings and $1.18 billion to $1.24 billion in adjusted earnings before interest, taxes, depreciation and amortization (Ebitda). Analysts had been looking for $36.5 billion and $1.16 billion, respectively.
