Uber, the ride-hailing company, is on track to surpass $6 billion in revenue this year and hit $4 billion for the year.
The ride-share company, which launched in 2016 with a limited number of riders and drivers, said it expects to break even in 2021.
Uber had previously predicted it would reach $4 trillion in revenue in 2021 and $5.2 trillion in 2021, based on a forecast from Goldman Sachs Group Inc.
Uber’s revenue jumped 42% to $3.4 trillion last year from $2.9 trillion in 2020.
It has said it will break even by 2021, which is about $500 million ahead of its projected 2021 earnings.
Uber also said it plans to grow its business in 2021 by doubling the number of rides it offers.
It said it could grow its revenue by 10% to 50% in 2021 from 20% in 2020 and by 40% to 60% from 40% in 2026.
Uber said its 2020 profit forecast was slightly higher than the $1.4B the company projected last year, but it said the revenue decline is due to fewer drivers.
It is also the biggest drop in the company’s revenue for the quarter.