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Uber expects profitability in 2 years

NEW YORK — The losses at Uber are mounting, but the ride-hailing heavyweight now predicts it will be profitable in about two years.

CEO Dara Khosrowshahi said Monday that the company’s goal is to reach profitability — when adjusted for interest, taxes, depreciation and amortization — for the full year of 2021.

“We hope that we’ve shown you that we can execute against not just delivering top-line growth, but also top-line growth with discipline,” Khosrowshahi said on a call with investors. “We can only do so with the really, really hard work of all our employees on a global basis, and also the partnership of the cities that we work with, and our drivers.”

The San Francisco company picked up the pace of its revenue growth, racking up $3.81 billion in the third quarter, 30 percent more than the same time last year. Last quarter, revenue had grown 14 percent compared to the prior year.

But Uber lost $1.16 billion in the quarter, extending its streak of losses. The third-quarter loss included $401 million in stock-based compensation related to its initial public offering.

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