Uber Stock Sinks as Operating Income Falls Well Short of Estimates

Uber Technologies (UBER) shares shares dropped in premarket trading Wednesday after the ridesharing giant reported fourth-quarter operating income well below analysts' estimates. Uber registered net income of $6.88 billion, or $3.21 per share, on revenue of $11.96 billion. Analysts had expected profit of $1.04 billion, or $0.48 per share, on revenue of $11.76 billion, according to Visible Alpha. The rideshare giant's profits were boosted by more than $6 billion from a "benefit from a tax valuation release, ...