Uber posts wider quarterly loss as costs rise, shares drop nearly 7%
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(Reuters) - Uber Technologies Inc on Monday posted a wider third-quarter loss as costs at the ride-hailing company soared, sending shares down 6.7% in after-hours trading.But the company promised it would be profitable by the end of 2021 as quarterly revenue beat expectations.Uber Chief Executive Dara Khosrowshahi told journalists on a conference call that the company would achieve adjusted EBITDA profitability for the full year of 2021. The move follows a similar announcement by smaller..