Uber forecasts first-ever adjusted profit, shares jump 7%

Uber Technologies Inc could post its first profit on an adjusted basis in the current quarter, its chief financial officer said on Tuesday, sending the ride hailing company’s shares up nearly 7% in premarket trading.

“With positive adjusted EBITDA in July and August, we believe Uber is now tracking towards adjusted EBITDA breakeven in Q3, well ahead of our prior guidance,” said CFO Nelson Chai.