Uber posts $708m Q1 loss
Main page News, Tech, Auto

Uber has reported a $708 million first quarter loss as the company struggles with high-level resignations and legal woes.

As bad as it seems the result is actually an improvement on the $991 million loss the ride-sharing company posted last quarter.

Revenue was up 18 percent to $3.4 billion with Uber telling CNBC it can see a road to profitability.

"The narrowing of our losses in the first quarter puts us on a good trajectory towards profitability," the company said.

Waymo's battle with Uber over theft of secrets to play out in public
Waymo's battle with Uber over theft of secrets to play out in public

But while the company's finances may be on the right track there seems to be no end in sight to the string of executive departures.

The latest to join the exodus is Uber head of finance Gautam Gupta, who CEO Travis Kalanick described as "a world-class financial talent".

Uber vice president resigns from ailing firm
Uber vice president resigns from ailing firm

"Over the last four years, he has been indispensible in helping build Uber from an idea into the business it is today," Mr Kalanick said in a statement."

"We couldn't have done it without him, and I will miss his energy, focus and infectious enthusiasm. All of us at Uber wish him well in this next challenge."

Uber could be subject to same rules as transport companies in the EU
Uber could be subject to same rules as transport companies in the EU
Read also:

Хотите узнать больше о гражданстве за инвестиции? Оставьте свой адрес, и мы пришлем вам подробный гайд

Please describe the error
Close
Close
Thank you for registration
Like us on Facebook to help us make even more interesting materials for free.