Uber Forecasts Adjusted Profit Below Wall Street Expectations
Uber said driver shortages, higher fuel costs and the Middle East conflict weighed on ride-hailing growth across markets including India, Brazil and Canada. The company is spending more to recruit and retain drivers.
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11:55:24 AM UTC
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UBER: ONGOING CONFLICT IN MIDDLE EAST WAS A 75 BPS HEADWIND TO GROSS BOOKINGS GROWTH IN Q3 FOR MOBIL
Uber NYSE:UBER forecast adjusted profit below Wall Street expectations on Wednesday, as driver shortages, higher fuel costs and the Middle East conflict weighed on ride-hailing growth in markets ranging from India and Brazil to Canada.The company is responding by spending more to recruit and retain…