July 27, 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

Facebook to be called Meta in nod to its ‘metaverse’ vision

The_Proponent

Western businesses cut some Russia ties over Ukraine invasion

The_Proponent

Court battle opens in Musk, Twitter buyout fight

The_Proponent

Delta variant, shortages severely restrict U.S. economic growth in third quarter

The_Proponent

Pfizer says its COVID-19 vaccine is over 90 percent effective

The_Proponent

Trump order targets Chinese internet giants TikTok, WeChat

The_Proponent

Leave a Reply

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