x
Uber Loses Nearly $1.8 Billion Last Quarter
Financial save
H
Posted

media

No media yet. 

details

Uber lost $1.78 billion in the second quarter as the pandemic carved a gaping hole in its ride-hailing business, with millions of people staying home to reduce the spread of the coronavirus.

The San Francisco-based ride-hailing giant brought in $2.24 billion in revenue during the second quarter, down 27% from the same time last year, on a constant currency basis, the company said Thursday.

Uber’s mobility business, which includes ride-hailing and micro-mobility options such as scooters and bikes, saw its revenue shrink to $790 million, down 67% from $2.38 billion a year ago.

Its Eats delivery business – once just a fraction of the company – brought in $1.21 billion in revenue during the quarter.

Uber’s quarterly losses included $382 million in restructuring and related charges as the company laid off 6,700 people – a quarter of its workforce – in May.

Uber said at the time that it would be closing or consolidating 45 offices worldwide.

Read More…

No comments yet.

Commenting is limited to those invited by others in the community
or learn more.

share

0 Upvotes

related products

No related products yet. 

x

Add to Collection