: Uber’s stock on pace for highest close in more than two years

Shares of Uber Technologies Inc. UBER on Tuesday were on pace for their highest close in more than two years, after the ride-hailing platform reported third-quarter results earlier in the day. The stock was up 2.6%, trading at $49.40, putting it on track for its highest close since July 6, 2021, when it closed at $50.80. Shares have been up eight straight days, notching their longest winning streak since Aug. 5, 2022. Uber’s quarterly per-share profit beat estimates. Sales missed expectations. The company forecast fourth-quarter gross bookings of $36.5 billion to $37.5 billion, with the midpoint above FactSet estimates of $36.57 billion. Uber Chief Executive Dara Khosrowshahi, during the company’s earnings call, cited a “very, very strong summer, augmented by travel,” and said back-to-school-season demand was also solid.

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