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Uber Sidesteps Lyft’s Debacle With Optimism Over Riders, Profit

  • Revenue rose 136% to $6.9 billion in the first quarter
  • Uber said it doesn’t expect to increase driver incentives
Updated on

Uber Technologies Inc. delivered a positive outlook for earnings in the current period, signaling the company plans to capitalize on robust ride demand without compromising profits by focusing on product changes, rather than incentives, to address the driver shortage.

The ride-sharing and delivery company projected gross bookings of $28.5 billion to $29.5 billion in the second quarter and adjusted earnings before interest, tax, depreciation and amortization of $240 million to $270 million. The top end of both ranges beat the average analyst estimate.