Uber CEO looks to put 50 cents of every dollar of revenue growth into achieving profitability

  • 📰 CNBC
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Uber CEO Dara Khosrowshahi said the company plans to put a majority of its revenue growth this year into the bottom line.

told CNBC the company plans to put a majority of its revenue growth this year into the bottom line.

"For every dollar of revenue growth, especially from Q4 to Q4, we expect to drop 50 cents to 55 cents to the bottom line," Khosrowshahi said on "We think that's absolutely doable to get to profitability by Q4, but at the same time make the kinds of investment we want to make to keep a high growth rate for many years to come."after-the-bell Thursday, which sent shares about 7% higher in the premarket. The ride-hailing and delivery platform announced a loss that was narrower than expected and moved its EBITDA profitability target to Q4 2020, rather than 2021.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Arizona CEO fired after yelling racial slurs at Uber driver in videoAn Arizona CEO was fired after yelling racial slurs at an Uber driver in a video. As they should be. Nah. He can keep that apology. Pass. There would be no need for us to ever talk again. He feels how he feels and name calls him when he can't get his punk ass way. That is a tremendously awful individual no one needs to associate with.
Source: ABC - 🏆 471. / 51 Read more »

Arizona CEO fired after yelling racial slurs at Uber driver in videoAn Arizona-based fertilizer company has fired its CEO after video surfaced of him berating a black Uber driver and calling him the N-word. Agroplasma CEO and President Hans Berglund was ousted from the company he founded amid accusations of racism and verbal assault, the company said Wednesday. The driver should have dumped ass in the middle of the desert
Source: YahooNews - 🏆 380. / 59 Read more »

Uber says it will turn a profit later this year after losing $8.5 billion in 2019Uber lost a staggering $8.5 billion in 2019, thanks in large part to stock payouts and IPO costs. But its ride-hailing business is making money and the company says it will hit profitability in 2020.
Source: latimes - 🏆 11. / 82 Read more »

Uber beats on earnings as revenue growth accelerates, lost $8.5 billion last yearUber's revenue accelerated in the fourth quarter, and losses were smaller than expected.
Source: CNBC - 🏆 12. / 72 Read more »