(CNBC) Uber shares rose by about 6% in premarket trading after raising its expected gross bookings to between $22.8 billion and $23.2 billion for the third quarter.
The bookings were higher than previously projected $22 billion to $24 billion. The expected bookings are also higher than $21.5 billion posted in the second quarter.
Uber also projects its EBITDA to be between $25 million to a profit of $25 million in the third quarter, better than previously forecasted about $100 million.
The ride-sharing giant also looks at a potential profit in the fourth quarter, although “forecasting uncertainty” is prevalent.
The company is banking on investments it made in the second quarter, which has helped its monthly active drivers and couriers rise to almost 420,000 from February to July in the US.
Uber reported about 1.51 billion trips on its platform in the second quarter, up 4% quarter over quarter and 105% year over year. Its drivers and couriers earned about $7.9 billion in the quarter.
UBER: NYSE is up +6.06% on premarket.
