SoylentNews

martyb [soylentnews.org] writes:

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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