SoylentNews

Uber Bookings Up 45% in 2018, Company Loses Slightly Less Money

posted by martyb on Monday February 18 2019, @12:31AM   
from the How-to-lose-$5-million-every-single-day-for-a-whole-year dept.

takyon writes:

Uber Lost $1.8 Billion in 2018 Despite Record Ride-Hailing, Food-Delivery Gains

Uber posted $50 billion in bookings for its ride-hailing and food-delivery services in 2018. However, the company still failed to turn a profit and its revenue growth slowed toward the end of last year, reports Reuters. That's bad news for Uber as the company looks to charm investors into an initial public offering (IPO) later this year.

Annual bookings were up 45 percent over 2017, according to Uber. Even then, the company's losses before taxes, depreciation, and other expenses still totaled $1.8 billion, down from the $2.2 billion loss the company posted in 2017. Uber's full-year revenue for 2018 was $11.3 billion, an increase of 43 percent from 2017.

Previously: Uber Posts $1 Billion Loss in Quarter as Growth in Bookings Slows

---

Original Submission

• Re:Is it just me? (Score: 3, Interesting) by The Mighty Buzzard on Monday February 18 2019, @09:35AM

  by The Mighty Buzzard (18) <themightybuzzard@proton.me> on Monday February 18 2019, @09:35AM (#802865) Homepage Journal

  If that's the case, they've been fucked right from the start. The startup cost in creating a competitor is fuck-all compared to most industries. They were never going to have a monopoly.

  --
  My rights don't end where your fear begins.

  Parent

  Starting Score:	1		point
  Moderation		+1
  Interesting=1, Total=1
  Extra 'Interesting' Modifier		0
  Karma-Bonus Modifier		+1
  Total Score:		3