Uber Reports Growing Profitability In Its Rides Segment

Uber Technologies, Inc. (UBER) reported that its third-quarter gross bookings grew $3.7 billion year-over-year to $16.5 billion, representing 29 percent year-over-year growth, or 32 percent on a constant currency basis. Adjusted net revenue growth accelerated to 33 percent year-over-year, or 35 percent on a constant currency basis. Rides adjusted EBITDA was up 52 percent year-over-year.

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