Uber booked $2.2 billion in sales last quarter - but it still took a $1.1 billion loss

Posted On: Feb 14, 2018   |   Posted By: Business Insider

Uber booked $2.2 billion in sales last quarter - but it still took a $1.1 billion loss

Uber is narrowing its enormous losses and its revenues are growing.
In Q4 2017, it booked a loss of $1.1 billion on $2.2 billion in revenues.
It comes as the company tries to move past a year of lawsuits and scandals.
Uber has had a chaotic year, battling lawsuits, sex discrimination allegations, and the departure of many of its top execs. But behind the scenes its business has been slowly improving.
The transportation startup narrowed its 2017 fourth-quarter loss to $1.1 billion from a loss of $1.46 billion in the previous quarter, a person familiar with the matter told Reuters.
Meanwhile, the ride-hailing company's quarterly revenue rose 11.8 percent to $2.2 billion from its previous quarter, Reuters' source said. According to Bloomberg , that figure is up 61% compared to 2016.
Uber has gone on to raise more than $14 billion in new funding. Last month, Uber closed a deal with SoftBank in which the Japanese conglomerate, along with other investors, took about a 17.5 percent stake in the company.
Silicon...

Continue reading ...

 






The last Posts from Business Insider



Top Canadian mobile stories from the past week

Top Canadian mobile stories from the past week

Every week we bring you the latest in Canadian mobile news. Listed below is a quick overview of the top stories from the past seven days. Pixel 3 and Pixel 3 XL Review: All the... Read more ...

Nokia 6.1 won't be part of the Beta Labs, to be updated to Android 9 Pie soon

Nokia 6.1 won't be part of the Beta Labs, to be updated to Android 9 Pie soon

HMD Global likes to thoroughly test major Android OS updates before making them available to everyone, which is why it kicked off a beta program where people can test all the... Read more ...

Huawei announces 1TB drive to back-up your Mate 20 automatically

Huawei announces 1TB drive to back-up your Mate 20 automatically

Recently, There is a lot of demand for large-capacity storage on mobile phones, The new Mate 20 series comes in multiple storage variants with support for storage expansion via... Read more ...

Google Play se met à jour et réduit le poids des installations d'applications

Google Play se met à jour et réduit le poids des installations d'applications

La gestion des applications sur un smartphone se fait de la même manière qu'avec des logiciels/jeux sur un ordinateur. Il faut gérer son espace disponible. Google Play vous... Read more ...

SEO Results the Organic Way - Search Engine Optimization for Beginners...

SEO Results the Organic Way - Search Engine Optimization for Beginners Popular Colection

Read more ...

Beta update for Gboard app gives a floating keyboard another shot

Beta update for Gboard app gives a floating keyboard another shot

You might recall that in September, Google tried out a floating keyboard for the beta version of the Gboard app. But it apparently wasn't ready for prime time and Google... Read more ...

Memory management issues are the latest problem with the 2018 Pixels

Memory management issues are the latest problem with the 2018 Pixels

The Pixel 3 and Pixel 3 XL could have an issue with multitasking. The new models have the same 4GB of RAM used on the first-gen Pixel and subsequent versions of the handset... Read more ...

Daily Deals: PlayStation Classic in Stock Again, PlayStation 4 Controllers...

Daily Deals: PlayStation Classic in Stock Again, PlayStation 4 Controllers on Sale

Welcome to IGN's Daily Deals, your source for the best deals on the stuff you actually want to buy. If you buy something through this post, IGN may get a share of the sale. For... Read more ...

Google Pixel 3 software makes display corners rounder in the name of symmetry

Google Pixel 3 software makes display corners rounder in the name of symmetry

Much like the Pixel 3 XL, the regular Google Pixel 3 makes use of a new display that has been praised significantly due to its improvements over last year's Pixel 2 panel... Read more ...

How to take great photos with the iPhone XS, Apple's finest camera phone yet

How to take great photos with the iPhone XS, Apple's finest camera phone yet

The iPhone XS and iPhone XS Max feature the best cameras yet seen on an Apple smartphone, ready for you to get out and take great photos. Here's our guide to help ensure each... Read more ...