Uber loses US$1bn in quarter as costs grow for drivers, food delivery

By on
Uber loses US$1bn in quarter as costs grow for drivers, food delivery

Costs rise 35 percent.

Uber reported a US$1 billion loss on Thursday as the ride-hailing service spends heavily to build up its food delivery and freight businesses, sending revenues up 20 percent in its first quarterly report as a public company. Revenue of US$3.1 billion matched the high end of the range Uber ...

Hi! You've reached one of our premium articles. This is available exclusively to subscribers.

It's free to register, and only takes a few minutes.

Once you sign up you'll have unlimited access to the full catalogue of Australia's best business IT content, as well as a daily news bulletin delivered straight to your inbox.

Register now
Got a news tip for our journalists? Share it with us anonymously here.
Tags:
finance software uber

Most Read Articles

Telstra to have Australian agents answer all inbound calls from 2022

Telstra to have Australian agents answer all inbound calls from 2022
Woolworths identifies stores with stock in chats initiated from Google Search, Maps

Woolworths identifies stores with stock in chats initiated from Google Search, Maps
ATO to integrate new digital services API gateway

ATO to integrate new digital services API gateway
NBN Co to cut 800 staff by end of 2020

NBN Co to cut 800 staff by end of 2020
You must be a registered member of iTnews to post a comment.
| Register

Whitepapers from our sponsors

Get IT, finance and business on the same page
Get IT, finance and business on the same page
Why is DevSecOps important to your business?
Why is DevSecOps important to your business?
Architecting Hybrid IT & Edge for Digital Advantage
Architecting Hybrid IT & Edge for Digital Advantage
Organizations Increasing Their Adoption of NFV
Organizations Increasing Their Adoption of NFV
Modernise IT by Reducing Your Reliance on AD
Modernise IT by Reducing Your Reliance on AD

Events

Log In

Username / Email:
Password:
  |  Forgot your password?