Uber's CFO said the company wants to keep improving adjusted earnings—boosted by a recovery in its rides business and continued strength of Uber Eats—but long-term growth is “the real focus point”
finance chief said the ride-sharing and delivery company is focused on boosting its revenue and income after achieving an important profitability milestone during its latest quarter.that it recorded adjusted earnings before interest, taxes, depreciation and amortization of $8 million for the quarter ended Sept. 30.
, after stints as chief executive at CIT Bank and Warranty Group and as finance chief at Merrill Lynch during the financial crisis and NYSE Euronext before that. Investors would like to see margin and market-share gains after years of hefty losses, said Nikhil Devnani, an analyst at Sanford C. Bernstein & Co. “Uber is a growth company, but it’s about profitable growth,” he said. “They have to strike a balance between investing in a competitive delivery market and proving to the Street that there is a high-margin business with cross-platform synergies underneath the hood.
The company last year pulled out of a number of countries where it didn’t see itself achieving a market-leading position, Mr. Chai said. The move involved about 20 actions, including exits and deals to sell operations to rivals, a spokesman said.
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