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Why Uber Stock Was Climbing Today

Why Uber Stock Was Climbing Today

Shares of Uber Technologies (NYSE: UBER) jumped today after the ride-sharing leader issued a strong fourth-quarter earnings report and beat estimates on the top and bottom lines. The fourth-quarter reports showed that Uber's efforts to streamline the business and rein in costs seem to be paying off. The discrepancy between bookings and revenue was due to a change in the business model in its U.K. mobility business and the acquisition of Transplace by Uber Freight.