Thursday, 22 February, 2018

Uber Fourth-Quarter Loss Drops to $1.1B

Student arrested after plans found for Everett school shooting Documents: Student in school shooting plot: 'I need to get the biggest fatality number'
Velma Reese | 15 February, 2018, 16:38

Despite this, Uber managed to narrow its losses in the last three months when compared to the previous year, from $1.46bn in 2016 to $1.1bn in 2017.

The company lost $4.5 billion a year ago, up from $2.8 billion in 2016, according to figures first reported by and confirmed by CNBC on Tuesday.

Fourth-quarter bookings rose by 14 percent to $11.1 billion.

Uber's loss was mainly based on accepted accounting standards, which includes write-downs and significant legal expenses.

Despite it being a turbulent year Uber, sales reached $7.5 billion.

Celebrate Valentine's Day the single way
So, go volunteer at your local animal shelter or soup kitchen and spread the love, because what you give is what you get. Valentine's Day is today, February 14, and we've rounded up some fast facts about the day that may surprise you .

Last week, the company said it would pay 245 million United States dollars in shares of Waymo, the Alphabet self-governing unit, to end its litigation in connection with the charge of stealing trade secrets. But how well Uber's stock fares on Wall Street will likely be tied to whether the company proves it can make money - something it isn't close to doing now.

Uber concluded the year with about $6bn in cash, 13 per cent less than the year before. It was the first full quarter under Dara Khosrowshahi, who took over the troubled business in September.

The settlement and Uber's improving finances indicate that the company is pushing to meet its goal for an initial public offering as soon as next year.

Speaking at a conference in San Francisco, Uber Technologies Inc.

Uber disclosed its quarterly results less than a week after it settled a trade secrets lawsuit with Waymo, the self-driving vehicle unit of Google's parent company, Alphabet. Uber also said its US ride-hailing market share fell from 82 percent at the start of past year to 70 percent in the fourth quarter. The new investors valued the company at $48 billion, a discount on its lofty valuation of $70 billion that came before a series of scandals led to the ouster of Travis Kalanick, its former chief executive, and co-founder. Although he says he is pleased with the company's progress so far, Khosrowshahi cautioned that the San Francisco company still has a long way to go to win back the trust of its consumers and drivers.

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