Nov 4 (Reuters) – Uber forecast adjusted profit below Wall Street expectations on Wednesday, as driver shortages, higher fuel costs and the Middle East conflict weighed on ride-hailing growth in markets ranging from India and Brazil to Canada.
Uber forecast fourth-quarter adjusted profit of 95 cents to 99 cents per share, below estimates of $1.06 per share, according to data compiled by LSEG.
The company said the Middle East conflict was a 75 basis-point drag on Mobility bookings growth and that it assumes a 100 basis-point hit in the fourth quarter.
The company expects gross bookings of $63.25 billion to $65.25 billion, compared with analysts’ estimates of $64.42 billion.
It expects adjusted core profit of $3.13 billion to $3.23 billion compared with estimates of $3.19 billion.