Uber Reports Disappointing User Growth, Food Delivery Orders
- Company forecasts an adjusted profit in 2021, similar to Lyft
- Third-quarter revenue and loss were better than expected
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Uber Technologies Inc. disappointed investors with quarterly results showing lackluster gains in bookings and monthly active users, two of the metrics most closely watched by Wall Street.
The ride-hailing company beat estimates for quarterly revenue and loss, improved its annual loss forecast and pledged to turn a profit by 2021. Those weren’t enough to lift the stock, though. Shares were down about 5% in extended trading after the results.