Breakingviews - Uber earnings are winding road to nowhere

FILE PHOTO: An Uber pick-up location is pictured in San Diego, California, September 30. 2019. REUTERS/Mike Blake/File Photo GLOBAL BUSINESS WEEK AHEAD

The numbers that reflect activity by Uber’s customers and passengers, from gross bookings and trips to revenue and adjusted net revenue, are all growing at a healthy clip. Other important figures remain stubbornly negative. Uber burned $2.5 billion of cash just to operate so far this year. It has enough cash to keep up that rate for four more years – but that’s a prerequisite for staying in business, not a boast.

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