Friday , May 7 2021

Business diversification turns to the cattle with increasing losses News



Business diversification turns to cattle with growing losses

Uber, who is ready to start the swap in 2019, has reported on the results of her III quarter. Total net losses for the period amounted to $ 939 million, an increase of 32% of the previous quarter.

This situation did not surprise the company's control, which explains its continued investment in new directions for the future growth of its business.

Uber executive director Dara Khosrovshakhi (Dara Khosrowshahi), envisages that the company's key service today, the passenger web commissioner for private cars, will be responsible for less than half of its business in ten years. Most profits will be provided by food delivery services (Uber Eats), renting electric scooters, bicycles and cargo transport (Uber Transport). However, realization of this preview is a reality requiring major investments in the development of these services, as well as the highly promising markets of India and the Middle East.

The adjusted loss indicator (EBITDA) for the third quarter was $ 527 million, which is 24% more than in the second quarter, but 13% less than in the previous year.

The revenue rose for the third quarter of five percent compared to the second quarter and a total of 2.95 billion dollars. The annual growth – 38% – slowed down almost twice, compared to six months ago, when the company negotiated a nine billion investment with the SoftBank Group.

Meanwhile, gross orders reached $ 12.7 billion, an increase of six percent over the previous quarter and 34% year on year.

This time, for the first time, Uber presented separate financial statistics for a 30 minute delivery service, Eta. Over the year, the total payments for orders increased by 150% to $ 2.1 billion.

Last month, Uber announced plans to reach up to 70 percent of the US population by the end of this year with eating. Khosrovshakhi said that Eta's rapid growth will eventually return the positive dynamics to the Uber business.


Source link