Uber incurs $1.27b loss in H1

AFP, SAN FRANCISCO: The on-demand car ride service Uber lost at least $1.27 billion in the first half of this year, Bloomberg reported on Thursday, citing sources close to the matter.
As a private company, San Francisco-based Uber is not obliged to disclose details of its financial performance, however, it recently conducted a conference call with investors.
Uber chief financial officer Gautam Gupta led the call, during which it was revealed that the company lost $520 million in the first three months of this year and another $750 million in the following quarter, according to Bloomberg.
Uber did not reply to an AFP request for comment.
Uber has invested heavily as the ride-sharing service seeks to make inroads at home and abroad. The company is seen as a star of the "sharing economy," enabling people with smartphones to summon low-cost rides from motorists.

 

Uber incurs $1.27b loss in H1

AFP, SAN FRANCISCO: The on-demand car ride service Uber lost at least $1.27 billion in the first half of this year, Bloomberg reported on Thursday, citing sources close to the matter. As a private company, San Francisco-based Uber is not obliged to disclose details of its financial performance, however, it recently conducted a conference call with investors. Uber chief financial officer Gautam Gupta led the call, during which it was revealed that the company lost $520 million in the first three months of this year and another $750 million in the following quarter, according to Bloomberg. Uber did not reply to an AFP request for comment. Uber has invested heavily as the ride-sharing service seeks to make inroads at home and abroad. The company is seen as a star of the sharing economy, enabling people with smartphones to summon low-cost rides from motorists.