Uber Technologies reported that it received positive EBITDA in July and August, which improved its forecast for the entire current quarter. Now the company expects to receive adjusted EBITDA for the third quarter in the range from minus $ 25 million to plus $ 25 million, while the earlier expected loss of $ 100 million. The total volume of orders is projected in the range of $ 22.3-23.2 billion against the previous estimate of $ 22 -24 billion. Also, Uber has clarified the forecast for the fourth quarter and now intends to receive adjusted EBITDA in the amount of up to $ 100 million, while previously expected just a positive figure. We have improved our valuation of the company from $ 80 per share to $ 82. Our assessment is based on a differentiated approach, thanks to the global scale of the company and its market leadership position in various transport and logistics segments, coordinated by means of applications.
Based on our analysis, Ridesharing's core platform is profitable for every trip, and the company is poised to further expand its share in several high-growth regions, which we believe offers significant room for continued revenue growth. We believe that new businesses such as ride sharing, new urban products (such as bicycles and scooters), food delivery will soon start generating profits. Uber's business model perfectly correlates with global trends, given the significant scale of the company's business and the effectiveness of quality control through in-platform cross-selling.
Uber is a platform company that facilitates transportation as a service (TaaS) through ride-hailing, bikes and scooters, food delivery, and freight booking services across their app network. They are active in over 10,000 cities and 69 countries globally as of Dec. 31, 2018, and it is a market leader with 65%+ market share in nearly all ride-sharing regions in which it operates. The company is investing in all of their business verticals and also autonomous driving technology through their Advanced Technologies Group which has partnerships with Toyota, Denso, and Softbank.