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 confronts "really abysmal" reality of customer gripes

Telstra confronts "really abysmal" reality of customer gripes
Bunnings floors it on digital store rollout

Bunnings floors it on digital store rollout
Telstra asks its 30,000 employees what they really think with 'experience pulse'

Telstra asks its 30,000 employees what they really think with 'experience pulse'
Qantas opens throttle on 'Voice of the Customer'

Qantas opens throttle on 'Voice of the Customer'
You must be a registered member of iTnews to post a comment.
| Register

Whitepapers from our sponsors

Your mobile devices may not be secure – learn how to fix that
Your mobile devices may not be secure – learn how to fix that
Don’t risk your business – learn how to protect your cloud assets
Don’t risk your business – learn how to protect your cloud assets
Accelerate your cloud adoption - Go Fast, Securely
Accelerate your cloud adoption - Go Fast, Securely
Lessons Learnt - The Unisys Cloud Migration Journey – a digital transformation case study
Lessons Learnt - The Unisys Cloud Migration Journey – a digital transformation case study
How to drive revenue and increase loyalty through customer experience in retail
How to drive revenue and increase loyalty through customer experience in retail

Events

Log In

Username / Email:
Password:
  |  Forgot your password?