Uber Is Cash Flow Positive for First Time. The Stock Soars.

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Updated Aug. 2, 2022 9:38 am ET / Original Aug. 2, 2022 7:35 am ET

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Ride-hailing giant  Uber Technologies stock soared after the company became cash-flow positive for the first time.

Uber (ticker: UBER) reported a loss of $2.6 billion, or $1.33 a share, for the second quarter, while consensus among analysts tracked by FactSet was for a loss of 27 cents. The latest quarter included a $1.7 billion headwind related to equity investments. Revenue grew by 105% year over year to $8.1 billion, topping estimates for $7.4 billion.

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