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Uber's Profit Forecast Disappoints as Driver Shortages, Middle East Conflict Hurt
Uber said tighter driver supply and higher fuel prices cut mobility growth, while it plans to spend more on recruiting and retaining drivers.
Summary by The Economic Times
10 Articles
10 Articles
Uber’s Ride-Hail Bookings, Trips Miss on Overseas Driver Crunch
Uber Technologies Inc. posted weaker-than-expected ride-hail bookings after it experienced driver supply constraints overseas, and blamed the ongoing tensions in the Middle East for a muted holiday outlook.
·New York, United States
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Uber's profit forecast disappoints as driver shortages, Middle East conflict hurt
The company is responding by spending more to recruit and retain drivers, a cost that will be watched closely because it comes as the company also funds a major push into autonomous vehicles and a string of acquisitions.
·Mumbai, India
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Uber exceeded forecasts of adjusted earnings and revenues in the third quarter, while its gross reserves grew 20%. However, the range of gains it anticipates for the fourth quarter was below the average expected by analysts.
Coverage Details
Total News Sources10
Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution72% Center
Bias Distribution
- 72% of the sources are Center
72% Center
14%
C 72%
14%
Factuality
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