{"id":11692,"date":"2018-08-16T07:28:02","date_gmt":"2018-08-16T07:28:02","guid":{"rendered":"http:\/\/qatar-news.org\/qatarnewsEn\/?p=11692"},"modified":"2018-08-16T07:28:02","modified_gmt":"2018-08-16T07:28:02","slug":"uber-cuts-its-losses-and-revenue-soars-63","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=11692","title":{"rendered":"Uber cuts its losses, and revenue soars 63%"},"content":{"rendered":"
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\"How\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Uber’s financial picture improved in the second quarter: Its revenue jumped and its losses narrowed.<\/h2>\n

According to a copy of Uber’s latest results, viewed by CNNMoney, Uber’s quarterly revenue was $2.8 billion, up 63% over last year. The company lost $891 million, down from $1.1 billion a year ago. <\/p>\n

Gross bookings from customers increased 41% to about $12 billion. <\/p>\n

In May, the company reported<\/a> a rare profit during the first quarter, because it had given up two of its operations abroad to competitors. <\/p>\n

Uber regularly releases its financial results, even though as a private company it’s not required to do so. <\/p>\n

“We had another great quarter, continuing to grow at an impressive rate for a business of our scale,” Uber CEO Dara Khosrowshahi said in a statement. “Going forward, we’re deliberately investing in the future of our platform.” <\/p>\n

Khosrowshahi took over as CEO<\/a> last year amid turmoil<\/a> at the company. Uber has invested in areas beyond cars, such as bike sharing<\/a> and scooters<\/a>. Other investments include food delivery and what Khosrowshahi calls “high-potential” markets in the Middle East and India. <\/p>\n

The company has said it is considering an initial public offering in 2019. <\/p>\n

But Uber continues to face challenges, such as regulatory hurdles. Last week, New York<\/a> became the first American city to limit the number of ride-sharing vehicles and to require companies like Uber and Lyft to pay drivers a minimum rate. <\/p>\n

Its self-driving car efforts<\/a> have also faced setbacks. Earlier this year, an autonomous Uber SUV struck and killed<\/a> a pedestrian in Tempe, Arizona. <\/p>\n

— CNNMoney’s Seth Fiegerman contributed reporting. <\/i> <\/p>\n

CNNMoney (New York) <\/span> First published August 15, 2018: 6:50 PM ET<\/span> <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Uber’s financial picture improved in the second quarter: Its revenue jumped and its losses narrowed. According to a copy of Uber’s latest results, viewed by CNNMoney, Uber’s quarterly revenue was $2.8 billion, up 63% over last year. The company lost $891 million, down from $1.1 billion a year ago. Gross bookings from customers increased 41%…<\/p>\n","protected":false},"author":10,"featured_media":11693,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-11692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/11692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11692"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/11692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/media\/11693"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}