The American taxi and delivery company Uber is rising in pre-market trading after reporting better-than-expected results and record-high profitability.

Adjusted operating profit came in at $761 million in the first quarter, compared to an average forecast of $679 million, according to a Bloomberg forecast.

Sales were $8.8 billion in the first quarter, compared to an expected $8.7 billion.

And CFO Nelson Chai is optimistic about the future. He expects continued profitability improvement in the second quarter after the record-breaking first quarter, both in terms of profitability and free cash flow.

Futures trading on Wall Street was a thumbs up for the report, with the stock rising around 8 percent ahead of Tuesday's opening.

Competitor Lyft has initiated cutbacks ahead of its report next week due to weak demand and weak profit growth.

Source: TT-DI.SE