Ride-hailing giant Uber told markets on Tuesday that it is on course to make an adjusted profit this quarter, the first quarter in which they would have finished in the black. "We believe Uber is now tracking towards adjusted ebitda break-even in the third quarter, well ahead of our prior guidance," said the firm's chief financial officer Nelson Chai. Shares popped by more than 10 per cent on the news. Uber also forecast that its gross bookings for July to September this year would come in at between $22.8bn (£16.7bn) and $23.2bn - slightly down from its previous forecast of between $22bn and $24 bn. Post-pandemic, the company is somewhat slimmed down after a range of cost-cutting measures, including laying off almost 7,000 staff last year, closing offices in some locations and offloading its food delivery market in unprofitable markets.

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