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Uber turns cash flow positive for the first time in bumper quarter

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Reuters

By Nivedita Balu (Reuters) – Uber Technologies Inc reported positive quarterly cash flow for the first time ever on Tuesday and forecast third-quarter operating profit above estimates, as more people rely on its services for transport and food delivery. The company’s shares surged 13% to $27.9 and helped drive an 13% gain in rival Lyft Inc’s stock. Uber generated free cash flow of $382 million in the second quarter, topping analysts’ expectations of $263.2 million, as trips exceeded levels seen before the pandemic, boosted by office reopenings and a surge in travel demand. The company also add…

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