The company on Thursday posted a $1.8 billion net loss from April through June, including charges related to laying off 23% of its global workforce during a period when infections of the novel coronavirus continued to spread in the United States, Uber's largest market.
Uber's second-quarter revenue fell 29% to $2.24 billion from the year prior, beating analysts' average estimate of $2.18 billion, according to IBES data from Refinitiv. Uber's ride-hailing segment remained battered by the coronavirus crisis, with revenue from the United States and Canada, its largest combined market, declining to $1.25 billion. Nevertheless, ride-hailing was the only segment generating an adjusted EBITDA profit, of $50 million.
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.
WATCH: How telecom companies have weathered the Covid-19 stormNedbank CIB's Preshendran Odayar talks to Business Day TV about how telecoms firms are weathering the Covid storm
Source: BDliveSA - 🏆 12. / 63 Read more »