Uber falls after weak profit forecast, shares down 6 percent in futures trading

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Uber falls after weak profit forecast, shares down 6 percent in futures trading
Photo: Richard Drew AP/TT

Shares in American company Uber Technologies fell sharply, down 6 percent in futures trading on Wall Street after an unexpectedly weak profit forecast.

The company, which specializes in taxi and transportation services, flags in the report plans for further investments in driverless vehicle technology, a project that has already devoured hundreds of millions of dollars from the company's budget.

Adjusted earnings per share are expected to be 65-72 cents per share for the current quarter. This is lower than the average analyst estimate of 77 cents per share.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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