RTTNews | Sep 21, 2021 07:41AM EDT

07:41 Tuesday, September 21, 2021 (RTTNews.com) - Uber Technologies, Inc. (UBER) said, with positive adjusted EBITDA in July and August, the company is now tracking towards adjusted EBITDA breakeven in its third quarter, well ahead of prior guidance. The company anticipates sequential adjusted EBITDA improvement in its fourth quarter.

For third quarter, the company now expects: adjusted EBITDA between a loss of $25 million and profit of $25 million, revised from prior outlook of better than a loss of $100 million. Gross bookings are anticipated between $22.8 billion and $23.2 billion, updated from prior guidance of $22 billion to $24 billion.

For the fourth quarter, Uber now expects adjusted EBITDA between $0 and $100 million. Previously, the company projected adjusted EBITDA profitability.

Shares of Uber Technologies were up 5% in pre-market trade on Tuesday.

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