October 5, 2024
Image default
Business

Uber sees $1.8 bn loss as pandemic stalls revenue

San Francisco (AFP) – Uber on Thursday reported a $1.8 billion loss in the recently ended quarter as the pandemic caused its shared-ride business revenue to plunge.Overall revenues skidded 29 percent from a year ago to $2.2 billion, as gains from delivery failed to offset a massive 75 percent drop in its ride-hailing bookings, San Francisco-based Uber said.Uber shares dropped more than four percent in after-market trades that followed release of the earnings figures.”Our team continues to move at Uber speed to respond to the pandemic’s impact on our communities and on our business, leading our…

Read More

Related posts

White House channels infrastructure funds to snarled ports

The_Proponent

U.S. airlines cut hundreds of Christmas Eve flights, but Americans carry on

The_Proponent

Western businesses cut some Russia ties over Ukraine invasion

The_Proponent

U.S. job growth misses expectations in November; unemployment rate dives to 4.2%

The_Proponent

Honda suspends exports to Russia, more Japanese automakers could follow

The_Proponent

Christopher Nolan Slams Warner Bros’ Decision To Release New Films On HBO Max: ‘We’re Working For The Worst Streaming Service’

The_Proponent

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.