Uber Fy19 | Pixr8 News

5th Nov 2019, California- Cab aggregator firm Uber posted a third-quarter result which shows the loss of the company widens in each quarter of 2019. The reason for these losses is deep discounts and invests heavily in loss-making new business ventures, said the ride-hailing company. After the announcement of third-quarter results, Uber shares drop 5.5% in after-hours trading. However, Uber said it would be profitable by the end of 2021 as quarterly revenues, driven by its global ride-hailing business, beat expectations. Uber Chief Executive Dara Khosrowshahi told Pixr8 News, "the company as a whole would achieve adjusted EBITDA profitability for the full year of 2021, but declined to provide details on the performance of individual business units by that time." As per the ...

Cab aggregator service Uber posted a record $5.2 billion loss in the second quarter report, as growth in its core ride-hailing service got slow. After the announcement of Second-quarter results, Uber shares down 6%. Uber’s second-quarter net loss, widening from a loss of $878 million a year earlier, included $3.9 billion of stock-based compensation expenses related to its IPO earlier this year and nearly $300 million in “driver appreciation” related to the stock sale. The second-quarter report caught Uber investors off guard because Uber’s rival Lyft had raised revenue expectations and described an easing price war. “Our platform strategy continues to deliver strong results, with trips up 35% and Gross Bookings up 37% in constant currency, compared to the second quarter of l...

Tag: Uber Fy19

Uber Loss Widens amid Costs Rise

Uber Posted Huge $5 Billion Loss, Share down 6 Percent