Uber’s shares went into reverse on Thursday after the taxi-hailing company unveiled profit figures that failed to live up to expectations. Revenue growth slowed in face of heavy competition, leading to the company posting its largest quarterly loss. Uber and its rivals are spending heavily to expand, but boss Dara Khosrowshahi said that the competitive… Continue reading Uber shares tumble as profit figures disappoint
Tag: Uber
Uber loses $5 billion, misses Wall Street targets despite easing price war
(Reuters) – Uber Technologies Inc (UBER.N) reported a $5.2 billion loss and revenue that fell short of Wall Street targets on Thursday as growth in its core ride-hailing business slowed, sending its shares down 6%. FILE PHOTO: Uber’s logo is seen on a smartphone screen as a picture of stock exchange graph is displayed on… Continue reading Uber loses $5 billion, misses Wall Street targets despite easing price war
Uber Reports Second Quarter 2019 Results
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter ended June 30, 2019. “Our platform strategy continues to deliver strong results, with Trips up 35% and Gross Bookings up 37% in constant currency, compared to the second quarter of last year,” said Dara Khosrowshahi, CEO. “In July, the Uber platform… Continue reading Uber Reports Second Quarter 2019 Results
Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate
SAN FRANCISCO — Uber set two dubious quarterly records on Thursday as it reported its results: its largest-ever loss, exceeding $5 billion, and its slowest-ever revenue growth. The double whammy immediately renewed questions about the prospects for the company, the world’s biggest ride-hailing business. Uber has been dogged by concerns about sluggish sales and whether… Continue reading Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate
FlixMobility extends Series F at $2B+ valuation as it gears up to add cars to its bus and train network
Back in July it emerged that FlixMobility — the company behind the network of ubiquitous green FlixBus coaches that crisscross Europe and parts of the U.S. — had raised about €500 million in the largest-ever round of funding for a German tech company. That turned out not to be the full story. Today, the company… Continue reading FlixMobility extends Series F at $2B+ valuation as it gears up to add cars to its bus and train network
Lyft’s scooters steering new customers to ride-hailing, but winter is coming
FILE PHOTO: A man rides a Lyft scooter near the White House in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – A quarter of Lyft Inc LYFT.N customers who use its bikes and scooters are new to the company, executives said on Wednesday, outlining how investments in the expensive growth area may eventually… Continue reading Lyft’s scooters steering new customers to ride-hailing, but winter is coming
Ford CEO: We were disrupting the auto industry long before Elon Musk – CNN
The auto industry is going through massive change — and Tesla and its outspoken CEO, Elon Musk, are seen as the great disruptors. But as Ford CEO Jim Hackett pointed out during a recent interview for CNN Business’ The Table with Poppy Harlow in Detroit, his company caused, arguably, the biggest industrial disruption of the… Continue reading Ford CEO: We were disrupting the auto industry long before Elon Musk – CNN
Lyft raises forecast for 2019 as price war with Uber eases, ridership rises
(Reuters) – Lyft Inc posted a robust jump in revenue on Wednesday in its second-quarter results, helping the ride-hailing company to a better-than-expected loss as more riders used the service and price competition with rival Uber eased. FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. REUTERS/Lucy Nicholson/File… Continue reading Lyft raises forecast for 2019 as price war with Uber eases, ridership rises
Ride-Hailing Apps Make Traffic Worse — And Now They’re Admitting It
Traffic Updates Ride-hailing apps like Uber and Lyft are directly responsible for making traffic in cities worse. That’s not new: studies have arrived at the same conclusions again and again. What’s different this time around, though, is that Uber and Lyft actually funded the study that came back to point the finger at them, according… Continue reading Ride-Hailing Apps Make Traffic Worse — And Now They’re Admitting It
Self-driving truck startup Kodiak Robotics begins deliveries in Texas
A year after coming out of stealth mode with $40 million, self-driving truck startup Kodiak Robotics will begin making its first commercial deliveries in Texas. Kodiak will open a new facility in North Texas to support its freight operations along with increased testing in the state. There are some caveats to the milestone. Kodiak’s self-driving… Continue reading Self-driving truck startup Kodiak Robotics begins deliveries in Texas