Why Are Uber Shares Trading Higher Today?

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Uber Technologies UBER has narrowed Q3 FY21 Gross Bookings outlook to $22.8 billion - $23.2 billion from $22 billion - $24 billion previously.
Uber sees an adjusted EBITDA of $(25) million - $25 million for Q3 versus the previous $(100) million loss, with significant improvements in Mobility and Delivery adjusted EBITDA.
The ride-hailing company now expects to deliver an adjusted EBITDA of $0 million - $100 million for Q4 2021.
“With adjusted positive EBITDA in July and August, Uber is now tracking towards Adjusted EBITDA breakeven in Q3, well ahead of its prior guidance,” CFO Nelson Chai said.
The Q2 earnings strength, improving business prospects aided by vaccine-driven recovery, prompted Uber to update the guidance.
Price Action: UBER shares traded higher by 5.93% at $42.15 in the premarket session on the last check Tuesday.

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