Uber reports largest-ever loss at $5.2 billion

[Teh One Who Knocks]

BY JOHN BOWDEN - The Hill


https://i.imgur.com/8fahjpX.jpg

Uber reported a record $5.2 billion loss on Thursday, while also posting record-low revenue growth.

The ride-sharing company's second quarter figures showed the losses were due in large part to stock options the company paid employees following Uber's initial public offering in May.

But even when stripping out the stock awards, the company was down about $1.3 billion, more than twice the reported losses from the same period last year.

Revenue rose just 14 percent compared with the same quarter last year, the slowest pace on record.

Uber CEO Dara Khosrowshahi said the earnings report was a sign that the company was focused on "healthy" revenue growth.

“We think that 2019 will be our peak investment year,” he said in an interview with The New York Times. “We want to make sure that the kind of growth we have is healthy growth.”

“The competitive environment, which got worse in the second half of last year, is progressively improving now,” he added.

Uber in late July announced it would lay off roughly 400 employees, including about one-third of its marketing department.

"We are not making these changes because Marketing has become less important to Uber," Khosrowshahi said at the time in a staff email. "The exact opposite is true: we are making these changes because presenting a powerful, unified, and dynamic vision to the world has never been more important."

[DemonGeminiX]

I'd rather drive myself anyway.

[Teh One Who Knocks]

This company does nothing but bleed cash, yet it's a highly valued company and investors love it. I don't get it. :confused:

[DemonGeminiX]

Wishful thinking?

[Hal-9000]

This company does nothing but bleed cash, yet it's a highly valued company and investors love it. I don't get it. :confused:

Cab drivers here wouldn't allow Uber to operate in our city. They started to operate and then cab drivers somehow filed an injunction and stopped them.

Now I think we have limited Uber service.

Our cab fares are brutal. That's part of the reason I drive everywhere and don't drink.

[Teh One Who Knocks]

I've never used Uber or Lyft.

[RBP]

I've never used Uber or Lyft.

really? huh.

[PorkChopSandwiches]

I love Uber and Lyft. Use them both quite a bit. Supper convenient when out of town as well. Never was a fan of cabs. Cars mostly gross and drivers mostly shitty

[Godfather]

Whether Uber as a company succeeds or not due to poor management, aggressive growth strategies and strange compensation costs is one thing.... but Uber as a service has 100+ million users, and that's not even the entire market share. This is a very real service that people want. Cabs are trash and can't keep up with demand in any city I've ever visited, not to mention they're anti-customer service in a service-based industry. Ridesharing is not going anywhere.

[Hal-9000]

Whether Uber as a company succeeds or not due to poor management, aggressive growth strategies and strange compensation costs is one thing.... but Uber as a service has 100+ million users, and that's not even the entire market share. This is a very real service that people want. Cabs are trash and can't keep up with demand in any city I've ever visited, not to mention they're anti-customer service in a service-based industry. Ridesharing is not going anywhere.

I live in the SW and our airport is in the NE. I took a cab there in 2010 and it was over 60 dollars. I imagine today it's probably closer to 80.

Then I found an airport shuttle service from a downtown location (small handibus type vehicle) for 20 bucks. I paid about 11 to get downtown and waited about 15 minutes for the shuttle. 31 bucks total.

Can't find that shuttle service anymore and it makes me wonder if the Cab Mafia stopped that as well. Uber started here in 2015 and the cab companies instantly shut them down. They actually had a fight in court over it and almost won.

I don't see how any entity (meaning the cabs) can corner the market on something like transportation. I'm still not sure Uber offers the typical full service here like in other cities.

[Griffin]

I've never used Uber or Lyft.

I've never in 58 years been in a cab or used a city bus.
The only public transportation I've been on was the South Shore Line from Beverly Shores Indiana to Museum Campus for the Taste of Chicago about 25 years ago.

[lost in melb.]

I've never in 58 years been in a cab or used a city bus.
The only public transportation I've been on was the South Shore Line from Beverly Shores Indiana to Museum Campus for the Taste of Chicago about 25 years ago.

So how do you get around? :-k

[Griffin]

I've been driving my own vehicle since I was 16. 8-)

[Griffin]

It's funny how people in different areas relate to arriving from point A to point B.
Folks who live in rural areas look at distance, as in roughly 15 miles = 15 minutes. Whereas urbanites see it as time, 15 minutes = 3 blocks you should have just walked.

Me, I measure in the amount of beers it takes to get there.

[RBP]

I've never in 58 years been in a cab or used a city bus.
The only public transportation I've been on was the South Shore Line from Beverly Shores Indiana to Museum Campus for the Taste of Chicago about 25 years ago.

:shock: You're a local to me?

[Griffin]

:shock: You're a local to me?

My brother lives up there. It's been about 10 years since I've been there.

[RBP]

My brother lives up there. It's been about 10 years since I've been there.

:sad2: I was picturing myself at a hobo meal with a caravan and a tin cup full of grog.

[Griffin]

That's doable but you have to go about 700 miles south. :wave:

[RBP]

That's doable but you have to go about 700 miles south. :wave:

https://i.imgur.com/vXPniFF.jpg?1

[DemonGeminiX]

That's doable but you have to go about 700 miles south. :wave:

:-k

Tennessee?

[Griffin]

central Arkansas