August 2019

Uber Lost Over $5.2 Billion in 2019's Second Quarter

It is the biggest drop for the car service since 2017 when it started revealing data.According to 'The New York Times,' most of the fall was in regards to Uber paying employees stock compensation after it went public. Uber's total revenue rose $3.1 billion, but that's its slowest growth rate for a single quarter on record.CEO Dara Khosrowshahi says there are some positives in the recent report, such as the 31% rise in Uber's bookings.For the first time, Uber also added 100 million people who actively use the app on a monthly basis. Khosrowshahi adds in a recent interview that he expected the posted losses, but is optimistic about the rest of the year.We think that 2019 will be our peak investment year. We want to make sure that the kind of growth we have is healthy growth, Dara Khosrowshahi, via 'The New York Times'.