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Uber and Lyft aren’t profitable—their prices aren’t sustainable in the long run.

• rockinghigh 6y ago
  Uber Rides business is profitable (EBITDA=$742 million). https://investor.uber.com/news-events/news/press-release-details/2020/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2019/ https://investor.uber.com/news-events/news/press-release-det...
  • mdorazio 6y ago
    No they are not. Uber deliberately plays games with Non-GAAP reporting ("look how profitable we are if you ignore pesky things like interest, depreciation, and stock compensation") and shuffles losses away from Rides (to Tech) to show a net profit when there is none. Any standard accounting look at their balance sheet shows them losing money.
  • learc83 6y ago
    That’s “adjusted” non GAAP EBITDA, or invented bullshit that they can manipulate nearly any way they like. It’s like wework’s “community EBITDA”.