Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate

Kate Conger, reporting for The New York Times:

Uber set two dubious quarterly records on Thursday as it reported its results: its largest-ever loss, exceeding $5 billion, and its slowest-ever revenue growth.

The double whammy immediately renewed questions about the prospects for the company, the world’s biggest ride-hailing business. Uber has been dogged by concerns about sluggish sales and whether it can make money, worries that were compounded by a disappointing initial public offering in May.

Is there any evidence to suggest that Uber will ever turn a profit? I just don’t see it.

Thursday, 8 August 2019