Uber Loses $1.1 Bn Due To Investment In Food Delivery, Driverless Car

• Uber lost 1.1 billion in the fourth quarter of 2019, about 24 percent more compared to the same time last year due to investment in food delivery & driverless Car

Uber generated revenue of $4.1 billion, up 37 percent from a year earlier. The revenue grew all over the world, though the biggest gain was in the US and Canada, where Uber pulled more than last year at 41 percent. But, before accounting for interest, taxes, depreciation, and amortization, his Eats business lost 461 million in the quarter, down 66 percent from the same time last year as Uber investment into growing the business in a highly competitive food delivery market.

Analysts polled by FactSet predicted Uber will lose $1.18 billion, or 67 cents per share, for the year.

Uber generated $4.1 billion in revenue, up 37 percent from the previous year. Revenue grew worldwide, though the biggest gain was in the U.S. and Canada, where Uber pulled at 41 percent more than last year. Yet his Eats company lost 461 million in the quarter before accounting for interest, taxes, depreciation, and amortization, down 66 percent from the same time last year as Uber put money into growing the business in a highly competitive food delivery market.

At all costs, we recognize that the era of growth is over. In a world where investors are increasingly demanding not just growth but profitable growth, we are well placed to win through ongoing innovation, excellent execution, and the unrivaled scale of our global platform. In Uber’s last call for earnings, Khosrowshahi said the firm’s goal was to turn a full-year profit in 2021.

“2019 has been a transformative year for Uber and I am pleased with our progress, consistently delivering on our profitability path against the commitments we have made to our shareholders,” said Dara Khosrowshahi, CEO, Uber.

At all costs, we accept that the age of growth is over. In a world where investors are constantly demanding not just growth but sustainable development, we are well-positioned to succeed through relentless innovation, excellent performance, and the unrivaled size of our global platform.

“Uber’s fourth quarter was marked by painful disclosures. In December, the company released a long-awaited study in which its riders reported more than 3,000 sexual assaults

The same month Uber agreed to pay $4.4 million over his internal corporate culture to end a federal sexual harassment probe. But those announcements did not take on the stock a toll that has inched up over the past two months. Uber’s shares cratered after his IPO, dropping 42 percent in November to a low of 25.99.

But over the last month, it reclaimed some ground, hitting 37 on Thursday, about 18 percent below its IPO price. Its losses in the fourth quarter included 243 million in stock-based compensation.