Uber Technologies may finally be a publicly traded company, but its next challenge is how to become profitable.In 2018, Uber (UBER) reported an operating loss of $3 billion – that’s on top of losing more than $4 billion the previous year. Still, it didn’t scare away investors. Some analysts predict the ride-hailing app leader will turn a profit – eventually.“They’re trying to disrupt a $5 trillion market and they’re not there yet,” Alejandro Ortiz, principal analyst at SharesPost, tells Yahoo Finance’s “The First Trade.”“They’re going to have to spend heavily to get there,” he said. “So, could they turn a profit by 2030? Probably. Will they choose to? Remains to be seen.”Anshel Sag, analyst at Moore Insights, is more bullish on Uber’s path to profitability.“I think they have a new CEO that’s much more focused on bringing the company into profitability and repairing the company’s reputation,” Sag said.Sag added that the IPO is a good example of Uber trying to take a more conservative approach to growth....MORE
Roger that, may or may not be profitable in 10 1/2 years, over.
