Uber losses stretch to $US4.5b after 2017 shocker

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As Uber worked to recover from series of scandals at the end of 2017, it's financial situation also stabilized.

Uber CEO Dara Khosrowshahi, whose company just stared down that same question late previous year as it negotiated a high-stakes deal with the $100 billion fund, gave voice to that intellectual exercise today as he offered an overview of his business to Goldman Sachs clients and investors.

Uber lost billions in China before selling its business there in 2016 in exchange for a 17.5 percent stake in homegrown rival Didi Chuxing.

For the fourth quarter, Uber's net loss was $1.1 billion, down from $1.46 billion it lost in the third quarter. Uber also said its USA ride-hailing market share fell from 82 per cent at the start of a year ago to 70 per cent in the fourth quarter.

He said that it's Uber's commitment to "developing" markets that are dragging things down, but he views that as an "optional investment". Bookings from fares rose 14 percent to just over $11 billion for the quarter.

In its recently released report for the fourth quarter, Uber revealed that it has actually managed to reduce its quarterly losses and move a step closer to profitability.

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Despite a turbulent year for the ride-hailing company, sales were $7.5 billion.

"It looked messy and it was messy", Khosrowshahi said on stage at a Goldman Sachs technology conference in San Francisco on Wednesday. "If you draw that out further, a year from now, this could be a significant IPO waiting to happen", he said.

Uber considers adjusted earnings before taxes as a better indicator of its financial performance rather than net earnings based on Generally Accepted Accounting Principles, which include losses for accounting purposes.

Uber has gone through a lot of changes over the past year, including a new CEO. It's been two days for the courtroom war and allegations fight happening between Waymo and Uber and the portrayal of the ride-hailing company is more or less of a greedy and aggressive company who would do anything to win the race including unethical practices like stealing the trade secrets from their competitors. Travis Kalanick's resignation in June 2017 and the subsequent appointment of former Expedia boss Dara Khosrowshahi as CEO appears to have reassured customers and investors a little towards the final months of the year.

Earlier this month Uber ended the autonomous vehicle trade secrets lawsuit filed by Alphabet's Waymo for a payment of Uber stock valued by Waymo at $US245 million.

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