News Formal

Uber shares fall after ride-hailing company reports £4bn loss

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 67%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The company says a price war in the US is easing but slowing revenue growth leaves analysts worrying about its ability to expand.

Shares in Uber fell around 6% after the company reported record losses for its second quarter.Costs rose by 147% to $8.65bn during the quarter.

This was partially due to one-off costs, such as $3.9bn of stock-based compensation expenses related to its IPO earlier this year and nearly $300m in"driver appreciation" related to the stock sale.Total revenue was up 14% to $3.2bn but still below expectations. Revenue from the company's main business - its ride-hailing - grew just 2% to $2.3bn and food delivery division Uber Eats grew 72% to $595m .

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:

 /  🏆 35. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Uber What a shame.

Uber 😨

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Uber shares fall after ride-hailing company reports $5bn lossThe company says a price war in the US is easing but slowing revenue growth leaves analysts worrying about its ability to expand.
Source: SkyNews - 🏆 35. / 67 Read more »

Uber shares fall after ride-hailing company reports $5bn lossThe company says a price war in the US is easing but slowing revenue growth leaves analysts worrying about its ability to expand.
Source: SkyNews - 🏆 35. / 67 Read more »