Uber's fourth-quarter loss narrows to $1.1 billion: source
San Francisco: Uber Technologies Inc narrowed its 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.
The ride-hailing company’s quarterly revenue rose 11.8 percent to $2.2 billion from its previous quarter, the source said.
Uber has gone on to raise more than $14 billion in new funding and last month closed a deal with SoftBank Group Corp in which the Japanese conglomerate, along with other investors, took about a 17.5 percent stake in the company.
Silicon Valley-based Uber’s quarterly gross bookings rose 14 percent to $11.1 billion from the third quarter, the person said.
The company had previously reported third-quarter net loss of $1.46 billion on net revenue of $2 billion. Uber had gross bookings of $9.7 billion in the previous quarter.
Uber said last week that it would pay $245 million worth of its own shares to Alphabet Inc’s Waymo self-driving vehicle unit to settle a legal dispute over trade secrets, allowing Uber’s chief executive to move past one of the company’s most bruising public controversies.
Liquor major United Spirits today reported about 29 per cent rise in its standalone net profit at Rs 81.3 crore for the first quarter ended June 30, 2018.
Kerala Chief Minister Pinarayi Vijayan today said the state government would take steps to provide employment skills to youth and support them to implement innovative ideas.
Union roads minister Nitin Gadkari today laid the foundation stones for over Rs 3,580 crore of roads projects in the poll-bound Madhya Pradesh.
Vice President M Venkaiah Naidu today said the RBI and the Income Tax Department should ascertain at the earliest whether the money deposited in banks post demonetisation was "white or black" in order to maintain the credibility of the reform.
The Gujarat government today submitted a memorandum to the 15th Finance Commission asking for compensation for the revenue loss of over Rs 9,000 crore annually due to prohibition in the state.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.