Uber outperforms Q3 expectations but Q4 outlook misses lofty estimates

[Close-up of an Uber vehicle] Uber Technologies (UBER [https://seekingalpha.com/symbol/UBER]) delivered another solid quarter and enjoyed its fifth consecutive quarter of 20% or more gross bookings growth, driving up the company’s profit and sales to levels that exceeded Wall Street’s expectations. Shares were initially struggling for direction in premarket trading, however, as the company’s profit forecast disappointed investors as Uber (UBER [https://seekingalpha.com/symbol/UBER]) plans increased investment in autonomous vehicles and driver recruitment and braces for the continued fallout from the conflict in the Middle East and turmoil in Europe.