Uber’s Growth: the Ups and Downs Continue

It has been over a year that Travis Kalanick was ousted as the chief executive officer of Uber. The firm that focuses on cars released new financial results that displayed a continued growth. Uber is currently narrowing losses as it advances toward an initial public offering.

Uber has posted a loss of $891 million for the second half of the year, not to mention the $1 billion prior to this in the previous year. The firm took in $12.01 billion bookings in gross during the quarter. Furthermore, the ratio of food delivery fees and passenger fares increased 41 percent from a year ago. In the end, the revenue was $2.7 billion after paying out fees to drivers. Although Uber procured a profit last quarter through its business in Russia and Southeast Asia it didn't last long as it had plans on reinvesting the money. 

Many analysts and experts feel that Uber really don't have to publically announce its numbers. That might make the shareholders fear or even deflect any prospects in the future. It is a privately held company and Investors are closely scrutinizing Uber’s financial aspects. Currently, among the highly valued private firms Uber still remains the top player. The company is at $62 billion and is preparing to go public by the end of 2019. Its I.P.O. is predicted to be one of the biggest for a tech company.

Under Dara Khosrowshahi Uber’s latest quarterly results slightly indicates little change to its financial trajectory. Dara became the company’s new chief executive officer a few months back. He was brought in because decision makers felt that he would clear all the problems happening in Uber. He says he will make sure that the company will go to the next level. Let us see what happens.