Saturday , May 28 2022

Uber increases its losses in the third quarter


A few months of IPO are among the most expected year and year, Uber publishes disappointing results. On Wednesday, the US VTC group reported $ 1.07 billion in the third quarter.

This new deficit rises from the second quarter, when Uber's net loss was $ 891 million. Although Dara Khosrowshahi, the CEO of the group, congratulated Les Echos last May on Uber's increase in profitability, this publication does not guarantee assurance to investors. Uber has not yet proven his ability to be profitable in the long term.

Another point, perhaps even more disturbance, is the turnover reduction. Up to 51% in the second quarter of 2018 compared to 2017, Uber slowly slowed down in the third quarter. VTC company turnover does not increase by more than 38% compared to 2017, reaching 2.95 billion dollars between July and September.

The first results of Uber Eats

Gross orders, which is what Uber earns before paying drivers and drivers, generates $ 12.7 billion in revenue, up 34% of the previous year.

For the first time, San Fransisco also provided financial data on its meals distribution business, UberEats. A spokeswoman said that Uber Eats generated $ 2.1 billion in gross revenue. That is 17 percent of a gross $ 12.7 billion Uber order in the last quarter, says Bloomberg.

"We had another strong quarter for a company of a size and a global scale," however Nelson Chai, Chief Financial Officer, ensured a statement. "In anticipating an IPO, we invest in the future of our platform in the future, including food, freight, electric bikes and scooters and high potential markets in India and the Middle East where we continue to strengthen our leadership position. "

Source: Bloomberg

Lucas Mediavilla

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