Uber booked $2.2 billion in sales last quarter as its giant losses narrowed
|02/14/2018||Posted by BusinessMediaguide.Com under General World News||
Uber has had a chaotic year, battling lawsuits, sex discrimination allegations, and the departure of many of its top execs. But behind the scenes its business has been slowly improving.
The transportation startup narrowed its 2017 fourth-quarter loss to $1.1 billion from a loss of $1.46 billion in the previous quarter, a person familiar with the matter told Reuters.
Meanwhile, the ride-hailing company’s quarterly revenue rose 11.8 percent to $2.2 billion from its previous quarter, the source said. Per Bloomberg, it’s up 61% compared to 2016.
Uber has gone on to raise more than $14 billion in new funding and last month read more >>>