Uber Fourth-Quarter Loss Drops to $1.1B

16 February, 2018, 02:34 | Author: Terri Saunders
  • Scott Olson  Getty Images

The results released earlier this week showed Uber pared its fourth-quarter loss by 25 percent from the third quarter, a modestly encouraging sign. Uber had gross bookings of $9.7 billion in the previous quarter. But it started releasing certain information a year ago.

An Uber spokesman said: "We're incredibly encouraged by our financial performance and excited by our long-term potential to serve riders, drivers and cities". Despite a turbulent year for the company, it still managed to earn sales of $7.5 billion, although this was tempered by a substantial loss of $4.5 billion, an unprecedented number.

The numbers show that Uber under Mr Khosrowshahi is on a path toward profitability and a sustainable economic model, Mr Kulkarni said.

He is aiming for Uber to make an underlying profit by next year, ahead of a planned stock market flotation. "If you draw that out further, a year from now, this could be a significant IPO waiting to happen", he said. The fourth-quarter adjusted loss was $475 million, down from $606 million to in the third quarter.

The investment was part of an effort by Uber to move past a series of scandals and missteps and reform its board structure as it gears up for a 2019 public share offering.

Romney to announce bid for US Senate seat in Utah
His first public appearance as a Senate candidate will come Friday night at a county Republican dinner in Provo. Earlier this month, Romney tweeted that he'd be making an announcement February 15 about the Utah Senate race.

Remaining a private company, Uber is not legally required to present its quarterly figures, but it has begun disclosing some earnings information in recent months.

Earlier this month Uber ended the autonomous vehicle trade secrets lawsuit filed by Alphabet Inc.'s Waymo for a payment of Uber stock valued by Waymo at $245 million.

Transport for London (TfL) stripped the ride-hailing firm of its licence last September, raising concerns over Uber's approach to reporting serious criminal offences, how drivers' medical certificates are obtained, how criminal record checks are carried out, and its use of technology which allegedly helps it to evade law enforcement officials.

Even as Uber has seen unprecedented growth by expanding to dozens of countries, it has been hurt by missteps including allegations of executive misconduct, a toxic work atmosphere and potentially unethical competitive practices.

Its fourth-quarter improvement comes as a welcome boost for new chief executive Dara Khosrowshahi, who took over from ousted co-founder Travis Kalanick previous year.



No Heat playing restrictions for Dwyane Wade
Wade, who practiced with the team for the first time Monday, spent his first 13 seasons in Miami. "It helps", Spoelstra said. In Wade's first game back with Miami, he totaled three points, two rebounds, two assists and two steals.

Rockford Better Business Bureau warns of romance scam
Flower Works is even partnering with another local business, Wattsson and Wattsson to give the community a local gift. According to the BBB, a woman from Colorado reported she became involved with a man who claimed to be living in St.

Centrist leader says Netanyahu should resign
Case 1000 deals with Netanyahu's relationship with Australian billionaire James Packer and Hollywood producer Arnon Milchan. The statement was Mandelblit's first since police recommended filing criminal charges against Netanyahu on Tuesday .

McDonald's has promised to make its Happy Meals nutritious
To hit or exceed its 50 percent goal, restaurants will have to add, change or remove items from the Happy Meal menu. They'll do this by limiting the menu to a hamburger, 4-piece Chicken McNuggets, and 6-piece Chicken McNuggets.

Health Department Reports 3 More Pediatric Flu Deaths
According to the report , out of the 3,400 hospitalizations, over 1,800 were seniors over the age of 65 and over 400 were minors. Health department records show that the vast majority of this season's flu-related fatalities, 105, were 65-years-old or older.

Cardi B Sparks Pregnancy Rumors
Late last month, at a private listening party for Offset's new album with his group Migos , Cardi B showed off her engagement ring.

YouTube TV "surprise"? 8 new channels; higher prices
YouTube announced that it will increase the price of its subscription TV service by Dollars 5 per month to USD 40 from 13 March. The cord-cutting TV service wasn't initially available in many markets and wasn't available on that many devices, either.

Pregnant Kerala Woman Kicked In Stomach Lost Baby, 7 CPM Supporters Arrested
On the woman's complaint, the Kodanchery police had arrested Naklikkattu Kutiyil Prajeesh (37), a neighbor. The CPM has denied that it is connected to the incident in any way.

Facebook pushing trojan horse VPN that spies on users
If you were to stumble on Onavo Protect in the App Store , you'd have to tap More and read the full description to discover that. This has been in both the iOS App Store and Android's Google Play for a while, but the button within Facebook appears to be new.

Macron vows Syria strike if chemical weapons used
But Defense Minister Florence Parly was more reserved on Friday when asked if Damascus had crossed the "red line". In retaliation for that alleged attack the U.S. carried out cruise missile strikes on a Syrian regime airbase.