Uber Technologies Inc (NYSE: UBER) shares closed the day at $29.25 up 18% for the day. Uber shares surged after the ride-sharing app reported its quarterly results. The company just posted a big second-quarter loss but beat expectations on revenue. Uber also posted $382 million in free cash flow for the first time. Shares closed nearly 19% higher. UBER doubled quarterly revenue, improved its financial performance and said high inflation was causing more people to drive for the platform to help offset rising household costs.
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Published by Alan Masterson
Alan has over 25 years of trading experience in the U.S. equity markets. He began his career in finance working on a program trading desk specializing in over-the-counter stocks. His career progressed from that point to his current position as senior trader on an institutional trading desk.
In the evenings, Alan teaches economics at a local community college. He has contributed articles to various publications over the last six years, including feature articles for an economics magazine and various financial blogs.
You may contact Alan via his email (alanmasterson@cablemanpro.com) or his Google+ page
(https://plus.google.com/103338576216002376250).
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