CEO Dara Khosrowshahi told analysts the company would move up its EBITDA profitability target to Q4 2020.
The move is set to add more than $3.5 billion to Uber's market valuation, bringing it around $66.8 billion.
In its fourth quarter 2019 earnings call Thursday, CEO Dara Khosrowshahi told analysts the company would move its EBITDA profitability target to Q4 2020, sooner than hisaccelerating revenue growth on an annualized basis of 37% up from 30% the past quarter. The company beat the Refinitiv consensus estimate of $4.06 billion in quarterly revenue, reporting $4.07 billion.
The company reported a net loss attributable to the company in 2019 of $8.51 billion, mainly due to stock-based compensation. It expects its losses to be less pronounced than analyst estimates for 2020. Uber forecasted a $1.35 billion loss at the middle range before interest, taxes, depreciation and amortization , lower than the FactSet analyst consensus of a $2.83 billion loss.
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