Home news Uber losses shrink as ride numbers grow

Uber losses shrink as ride numbers grow

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Uber is still losing money, but the ride-hailing firm appears to have stemmed the flow of cash to some degree.The company lost about $645m in the second quarter of the year, down 14% from the same period in 2016, according to figures given to the website Axios.Revenue reached $1.75bn in the second quarter – more than double the figure for the same period last year.Uber also said drivers earned about $50m in tips since June.The number of trips in the quarter soared 150% year-on-year, with the fastest growth coming in developing markets.The privately owned company has recently started to reveal some of its financial information. It has been under a microscope, after a series of scandals that led to the departure of Travis Kalanick as chief executive.
Source: BBC