Uber’s Mounting Losses Overshadow Election Win in California
- Adjusted loss widened to $625 million in the third quarter
- Company on pace to turn adjusted profit by next year, CEO says
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Uber Technologies Inc. reported a wider loss for the third quarter, offering a stark reminder of the challenges facing its business even after winning a political victory in California this week.
The chief executive officer, Dara Khosrowshahi, tried to reassure investors on a conference call Thursday that the company has a path to profitability. He’s confident Uber will achieve its goal of a quarterly adjusted profit by the end of next year and that the delivery business would reverse its losses next year, too, Khosrowshahi said.