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UBER'S NEW ROADMAP TO PROFITABILITY DRAWS WALL STREET


(Reuters) - Shares of Uber Technologies Inc (UBER.N) rose on Friday after the ride-hailing company laid out an ambitious plan to be profitable by the end of 2020, a year ahead of its previous target as it tries to squash Wall Street doubts over its long-term viability.

Uber shares, which were down almost 50% percent at the end of last year from its public launch, jumped 7% in trade before the bell as investors were also smitten by the company’s aggressive plan to cut costs.


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