Why Uber Technologies Is Surging This Week
Shares of Uber Technologies (NYSE: UBER) are soaring 14.4% higher this week, from last Friday's close, after the ridesharing giant said it might finally turn a profit. It expects third-quarter adjusted profits will range between a loss of $25 million and a profit of $25 million when the current quarter ends on Sept. 30.
While that's a spread you can drive an Uber Eats vehicle through, it's better than the $100 million loss it predicted just last month and means that more than a decade after its founding, it just might be able to be a profitable business.
Image source: Uber Technologies.
Source Fool.com
