73 F
June 10, 2023
Image default

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

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


Wall Street rises as bank shares rally, Nike boosts Dow


Trump order targets Chinese internet giants TikTok, WeChat


PlayStation 5 console sells out in Japan


Here’s Where Americans Are Spending Their Money


Twitter: Elon Musk faces ‘market manipulation’ lawsuit


Leave a Reply

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

%d bloggers like this: