US Stock Market Move | Uber Technologies, Inc. (UBER.US) fell more than 7% in pre-market trading, as the CEO predicts that Robotaxi is unlikely to be profitable in the next few years.

On Tuesday, Uber Technologies, Inc. (UBER.US) fell over 7% in pre-market trading, to $92.43. The third-quarter report showed that in the three months ending September 30, Uber Technologies, Inc. had an operating profit of $1.11 billion, below analysts' previous expectations of $1.62 billion. Adjusted earnings before interest, taxes, depreciation, and amortization came to $2.26 billion, slightly below expectations as well. Despite the weak profit numbers, operational data was strong, with total bookings rising over 20% year-on-year to $49.7 billion, the largest increase since 2023. The company expects adjusted core earnings in the fourth quarter to be between $2.41 billion and $2.51 billion, slightly below market expectations of $2.48 billion. During the earnings call, the CEO of Uber Technologies, Inc. stated that they do not expect self-driving taxis to become profitable in the next few years.