Earnings

Uber CEO Dara Khosrowshahi predicts profitability by 2021

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Uber continues to burn through cash, but CEO Dara Khosrowshahi said the company could become profitable in about two years.

The ride-hailing company will be profitable on an adjusted EBITDA (earnings before interest, tax, depreciation and amortization) basis for the full year in 2021, Khosrowshahi said in an interview on Monday with CNBC’s Deirdre Bosa.

“While we haven’t finalized our planning, and it’s going to take a lot of hard work from a lot of folks, we are actually targeting 2021,” Khosrowshahi said. “So we know there is the expectation of profitability, and we expect to deliver” by that time, he said.

Khosrowshahi’s comments came after Uber reported over $1 billion in net losses in…



Source cnbc.com

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