Posted on 05/31/2019 6:29:05 AM PDT by C19fan
Uber Technologies Inc has reported a $1 billion loss as the ride-hailing service spends heavily to build up its food delivery and freight businesses, sending revenues up 20 per cent in its first quarterly report as a public company.
Uber's quarterly earnings report on Thursday, the company's first since going public earlier this month, was received positively by investors, with revenue beating analyst expectations.
Revenue of $3.1 billion matched the high end of the range Uber forecast for the quarter and the loss of $1.0 billion compared with the company's forecast of $1.0 billion to $1.11 billion.
(Excerpt) Read more at dailymail.co.uk ...
Hillary should be in prison. A hard core prison.
Sorry. Posted to wrong thread.
The stock is up 3%. The amount of the loss was expected.
Way to go Dara!
Never apologize for saying Hillary belongs in prison. It’s true and always appropriate to mention in random threads :-)
And there was a story yesterday of an Uber driver who took passengers to the airport......then returned to their house to rob it..................
When a company like Uber invests in growth and runs big losses, competitors can’t keep up.
The key to success is to maintain leadership and be in a growth market that will be lucrative in the future.
Sorry. Posted to wrong thread.
Never a bad place to say Hillary belongs in prison. Ha ha.
When a company like Uber invests in growth and runs big losses, competitors can’t keep up.
The key to success is to maintain leadership and be in a growth market that will be lucrative in the future.
I don’t know. Riding sharing with a phone app is such a basic commodity. In my travels I have used many different ones. I can’t imagine how you lose a billion dollars setting up a system to hail a taxi.
Anyway, back to Uber, I remember when many here were sounding the death knell for Amazon.com all those years they were losing money.
Wish I could go back to those days so that I could load up on Amazon stock!
That’s OK. It bears repeating. Often.
That sentiment is appropriate on ANY thread!
You win the internet today.
Riding sharing with a phone app is such a basic commodity.
...
So are hamburgers, but McDonald’s has done well.
Amazon had many years of losses before cracking a small profit. The headline doesn’t match the fact that Uber came close to what it expected (yes = losses); but did gain money over the previous report.
It’s still true, even on the wrong thread!...............
Just like Cato the Elder ending speeches saying “Carthago delenda est”, threads here should all include “Hillary should be in prison.”
Uber’s problem is not its losses. It’s its leadership. They cannot keep up with the growth in terms of management and policy. Plus, their business model has a lower barrier of entry for any company with capital.
While Tesla has its own struggles, I think it is well-positioned to be the dark horse that crushes Uber due to more sophisticated self-driving technology. Musk, whether you think of him as a pioneer or a charlatan, has a track record of being able to raise money.
Uber has the advantage of a worldwide presence that took a lot of legal and political maneuvering to achieve. In other words, they already have relationships with politicians to obtain favorable regulations. Despite this, I fully expect Uber’s leadership to run it into the ground and bankrupt it, defrauding the public while taking care of its rich investors and figureheads.
Uber is being heavily shorted right now.
Gonna be interesting to see how it plays out.
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