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Stock Alert: Uber Climbs More Than 8% On Optimistic Outlook

Shares of Uber Technologies, Inc. (UBER) are climbing more than 8% on Friday morning.

Thursday, the ride-hailing services company reported narrower-than-expected loss in the fourth quarter. The company's outlook also remains optimistic.

Chief Executive Dara Khosrowshahi said, "2019 was a transformational year for Uber and I'm gratified by our progress, steadily delivering against the commitments we've made to our shareholders on our path to profitability."

"We recognize that the era of growth at all costs is over. In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution, and the unrivaled scale of our global platform."

We had alerted about this stock on January 22, 2020, when it was trading at $37.60. Currently, the stock is at $40.38. It has been on the rise from November last year, growing nearly 50%.

Net loss in the fourth quarter was $1.10 billion or $0.64 per share, compared with last year's loss of $887 million or $1.98 per share. Analysts polled by Thomson Reuters were estimating a loss of $0.67 per share for the quarter.

Revenues jumped 37% year-on-year to $4.07 billion from $2.97 billion. Analysts had a consensus estimate of $4.06 billion.

Gross Bookings for the quarter also grew $4.0 billion or 28% year-over-year to $18.1 billion.

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