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posted by chromas on Friday November 16 2018, @10:24AM   Printer-friendly
from the taking-investors-for-a-ride? dept.

Uber Technologies Inc said on Wednesday that growth in bookings for its ride-hailing and delivery services rose 6 percent in the latest quarter, the third quarter in a row that growth has remained in the single digits after double-digit growth for all of last year.

The San Francisco-based firm lost $1.07 billion for the three months ending Sept. 30, a 20 percent increase from the previous quarter but down 27 percent from a year ago, when the company posted its biggest publicly reported quarterly loss on the heels of the departure of Uber co-founder and former Chief Executive Travis Kalanick.

Uber is seeking to expand in freight hauling, food delivery and electric bikes and scooters as growth in its now decade-old ride-hailing business dwindles. The company, valued at $76 billion, faces pressure to show it can still grow enough to become profitable and satisfy investors in an initial public offering planned for some time next year. ADVERTISEMENT

Its adjusted loss before interest, taxes, depreciation and amortization was $592 million, down from $614 million last quarter and $1.02 billion a year ago.

We may lose money on every transaction but we'll make it up in volume?

But seriously, I find it interesting there was absolutely no mention of their plans with self-driving vehicles.


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  • (Score: 0) by Anonymous Coward on Saturday November 17 2018, @12:27AM

    by Anonymous Coward on Saturday November 17 2018, @12:27AM (#762910)

    Exactly!

    Just like my plans for world domination based on room-temperature nuclear fusion and human-capacity time travel.

    Just a couple of inventions, and the world will fall before me!

    According to my plans you are doomed. DOOMED! I say.

    /sarcasm off

    There is a difference between planning to create something that does not exist (within the realm of what is possible) and a plan that is _based_ on those currently non-existing things.