August 6, 2020

Uber sees $1.8 bn loss as pandemic stalls revenue

San Francisco (AFP) – Uber on Thursday reported a $1.8 billion loss in the recently ended quarter as the pandemic caused its shared-ride business revenue to plunge.Overall revenues skidded 29 percent from a year ago to $2.2 billion, as gains from delivery failed to offset a massive 75 percent drop in its ride-hailing bookings, San Francisco-based Uber said.Uber shares dropped more than four percent in after-market trades that followed release of the earnings figures.”Our team continues to move at Uber speed to respond to the pandemic’s impact on our communities and on our business, leading our…


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