16 April, 2017
Its adjusted net loss was $2.8 billion (roughly Rs. 18,054 crores), excluding the operation in China it sold previous year, Uber said. The figures were first reported by Bloomberg.
"We're fortunate to have a healthy and growing business, giving us the room to make the changes we know are needed on management and accountability, our culture and organization, and our relationship with drivers", Rachel Holt, Uber's regional general manager for USA and Canada, said in a statement provided to CNNTech.
If Uber Technologies Inc. had been a public company in 2016, it would have been among the top 10 biggest money losers.
The results release comes soon after a slew of controversies and executive-level departures at the firm. Uber plans to bring in a chief operating officer to help run the company, and board member Arianna Huffington pledged to hold Uber's "feet to the fire" to improve gender and diversity issues in the workplace.
The majority of the bookings went to Uber's drivers, who typically take home around 75% of each fare, leaving the San Francisco firm with $6.5 billion in revenue.
Senate approves Trump's conservative Supreme Court pick
And in many ways the showdown had been pre-ordained, the final chapter in years of partisan warfare over judicial nominees. Kennedy will administer the judicial oath at a public ceremony at the White House later that day.
US Marine loses appeal over transgender woman's killing
In a ruling dated April 3, but only made public on Monday, the Court of Appeals denied Pemberton's appeal due to "lack of merit". The appellate court, however, revised the civil indemnity and moral damages set by the RTC at P50,000 to P75,000 each.
NDA allies vow to put united front in 2019
Replying to a question as to whether presidential election also came up for discussion, Jaitley said, "It was not on the agenda". The party said that the NDA should consider Bhagwat's name for the post if the dream of a "Hindu Rashtra" has to be fulfilled.
Since its inception in 2009, Uber has lost at least $8 billion, the report says. The company generated $2.9 billion in revenue, a 74 percent increase from the third quarter. Its rival, Lyft, just increased its valuation, thanks to a recent $500 million funding round, but still lags behind Uber at $7.5 billion.
Business Insider asked Uber for clarification on how entire UberPool fares can be counted towards revenue when it has to pay drivers out of those fares. Furthermore, Uber's loss statement "doesn't account for employee stock compensation, certain real-estate investments, automobile purchases, and other expenses".
In China alone, Uber's losses were pegged at $1 billion forcing it to wind up its business there, while global losses stood at $3.8 billion. Even its CEO, Travis Kalanick, found himself in a spot after he was videotaped arguing with an Uber driver over falling incomes.
Still, there's something fishy about Uber's balance sheet and some of the accounting behind the numbers the company selectively chose to share.