Uber loss leapt in 2017 as final quarter showed hope

phys.org | 2/14/2018 | Staff
moni (Posted by) Level 3
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Ride-share titan Uber on Tuesday revealed that its losses last year swelled despite signs in the final three months that it was stemming the red ink.

Figures reported by The Information and confirmed by AFP showed that Uber's losses in 2017 grew to $4.5 billion from the $2.8 billion the San Francisco-based firm lost a year earlier.

Uber - Quarter - Quarter - Revenue

However, Uber lost $1.1 billion in the final quarter of 2017 as compared with $1.46 billion in the preceeding quarter as revenue rose.

Net revenue grew to $2.22 billion from $1.38 billion in the same quarter-over-quarter comparison.

Uber - Company - Earnings - Information - Freshly

Uber remains a private company, but routinely discloses some earnings information. Freshly ensconced chief executive Dara Khosrowshahi is steering the high-value startup to a stock market debut next year.

Khosrowshahi began reigning in costs after he took over as Uber chief late last year, replacing ousted co-founder Travis Kalanick.

Waymo - Uber - Week - Settlement - Blockbuster

Waymo and Uber last week announced a settlement in a blockbuster lawsuit over allegedly stolen trade secrets from the former Google self-driving car project.

The surprise agreement ended an image-bruising trial between the two Silicon Valley rivals competing in a race to develop autonomous cars,...
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