Uber has long been chastised for the manner in which it calculates its adjusted profitability. EBITDA, as defined by the corporation, has an exceptionally long list of exclusions and is often regarded as an erroneous assessment of the company’s total profitability.
Uber’s operation is nevertheless fraught with uncertainties, including legal squabbles over how the firm defines its drivers. A state court in Massachusetts recently threw down a referendum proposition pushed by Uber and Lyft that would have established ridesharing drivers as independent contractors.
Nonetheless, the firm seems to be doing a better job of bringing new drivers to the platform, citing a 31 percent rise year over year to 5 million drivers worldwide. A countrywide driver scarcity pushed Uber to overspend on driver incentives earlier this year, causing its stock to plummet. Last week, the business said that it will begin allowing drivers to check rates before accepting trip requests.
