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



T-Mobile attempts to reinvent customer service with its new ‘Team of Experts'

T-Mobile attempts to reinvent customer service with its new ‘Team of Experts'

In an attempt to reinvent how it approaches customer care, T-Mobile announced its 'Team of Experts.' Now, when a customer contacts T-Mobile, they're directed to the same team... Read more ...

The Alexa-Cortana crossover is now available to the public

The Alexa-Cortana crossover is now available to the public

More people will be able to access the Alexa-Cortana collaboration their companies unveiled last year, now that the team-up is available as a public preview. Unfortunately, you... Read more ...

Third-party calling apps no longer work with Android 9.0 Pie

Third-party calling apps no longer work with Android 9.0 Pie

There is a lot to love about Android 9.0 Pie. But as users update their phones, they noticed an annoying new issue: Google removed a workaround an Android 9.0 Pie that... Read more ...

New Fortnite patch adds Heavy Sniper and two new game modes

New Fortnite patch adds Heavy Sniper and two new game modes

We've got another somewhat small Fortnite update landing today, but the new weapon it adds could very well be a terror to encounter on the battlefield. Most Fortnite players... Read more ...

T-Mobile's latest Un-carrier move isn't sexy, but it could be a big deal

T-Mobile's latest Un-carrier move isn't sexy, but it could be a big deal

T-Mobile just took the wraps off its latest Un-carrier move, and it's not what anyone was expecting. Instead of rolling out changes to its phone plans or a new TV streaming... Read more ...

Google One launches with cheaper cloud storage plans

Google One launches with cheaper cloud storage plans

For some reason, Google is rebranding Google Drive storage plans under the name Google One. Along with the rebranding, Google is also improving its pricing in ways that give... Read more ...

Dead Cells Vs. Hollow Knight | Versus

Dead Cells Vs. Hollow Knight | Versus

Dead Cells and Hollow Knight are 2 of the very best Metroidvania-style games available on the Nintendo Switch, but which one is the right game for you? Read more ...

Here's how to safely download ‘Fortnite: Battle Royale' on an Android device

Here's how to safely download ‘Fortnite: Battle Royale' on an Android device

'Fortnite: Battle Royale' is one of the biggest games in the world right now, and it's finally on Android, even if getting set up is a bit long-winded. Here's how to play... Read more ...

OneDrive's 'Known Folder Move' now rolling out to everyone

OneDrive's 'Known Folder Move' now rolling out to everyone

The new feature will make sure OneDrive automatically backs up and protects your pictures, documents, and desktop folders. OneDrive is making it a little easier to make sure... Read more ...

Telltale's The Walking Dead: The Final Season Full Release Schedule Revealed

Telltale's The Walking Dead: The Final Season Full Release Schedule Revealed

Telltale Games has announced the release schedule for all four episodes of The Walking Dead: The Final Season. Telltale Games tweeted this news just a day after the release of... Read more ...