On September 21, Uber Chief Financial Officer Nelson Chai said the company may achieve positive adjusted EBITDA for the first time this quarter, as the company reported positive adjusted EBITDA in both July and August, far exceeding previous expectations.
Uber had said in August that more riders returned to the platform in July and expects this trend to continue in subsequent months. In addition, the platform's food delivery orders continue to be robust.
Uber has now set its adjusted EBITDA estimates for Q3 2021 at between a loss of $25 million and a profit of $25 million, compared to a previous estimate of a loss of $100 million. Meanwhile Uber forecasts Q4 adjusted EBITDA to be between $0 and $100 million.
Uber May See Its First Profitable Quarter in Q3 2021