Uber Damages 1 Billion Dollars in Last Quarter
Uber lost a little more than $ 1 billion in the first three months of 2019, according to their report. This was the first quarterly earnings statement from the company’s public offering. Uber’s stock increased by around 1% after the announcement of the results.
Uber has lost almost every quarter since its inception. Uber, According to the GAAP report, it lost $ 4.46 billion in 2017. In 2018, the company suffered a loss of $ 370 million. Uber’s revenue in the last quarter is about 20% more than the first quarter of 2018: $ 3.1 billion. We can link it to Uber Eats, which is growing faster than Uber’s main cab system.
Uber earned $ 8.1 billion in public offering earlier this year. On the basis of this, the company may remove such losses for a few quarters, but this may exclude Uber’s investors, given that investors want to make a profit from their investments.
One possibility is that Uber’s cost of doing business with the launch of non-driver vehicles is greatly reduced, but for the time being, this technology will take a few years to come. Uber started work for his own driverless car last year.