Uber on Thursday moved forward by a year its target to achieve a measure of profitability to the fourth quarter of 2020, but the ride-hailing company still expects to lose a total of more than $1 billion this year.

Axar.az reports citing foreign media that Uber shares were up 5% in after-hours trading on the news, with Chief Executive Officer Dara Khosrowshahi saying the company would cut costs, aim to generate more repeat-customer business and try to increase the use of premium ride services.

He also said Uber would accelerate growth at the company’s loss-making food delivery business, Uber Eats, to become the top player in most of its worldwide markets, eventually increasing the segment’s margins, currently a drag on Uber earnings.