Uber's losses ballooned to $4.5bn in tumultuous year

Postado Fevereiro 15, 2018

When Dara Khosrowshahi was announced as the replacement for ousted Uber CEO Travis Kalanick, he looked set to inherit a company in major turmoil.

The full-year loss grew from $2.8 billion in 2016, but that year was skewed by a gain from the sale of Uber's business in China.

Despite a turbulent year for the ride-hailing company, sales were $7.5bn.

Despite the eye-popping figures, Uber is making headway on slowing the bleeding.

Uber didn't acknowledge any wrongdoing in the settlement that gave Waymo's corporate parent, Alphabet, more stock in the ride-hailing service.

Uber's loss was mainly based on accepted accounting standards, which includes write-downs and significant legal expenses.

The company lost $4.5 billion previous year, up from $2.8 billion in 2016, according to figures first reported by and confirmed by CNBC on Tuesday. Uber still lost a lot of money, just not as much as it did previously.

At the same time, Uber is about to raise over 14 billion United States dollars in a new round of funding, while last month was completed a deal with the SoftBank, where the Japanese group acquired 17.5% of the technology company. However, losses did narrow 26pc from Q3 of 2017 to $1.1bn, down from $1.46bn in the previous quarter.

Gross revenue for the year rose 85 percent over 2016, to $37 billion. Uber is not obliged to declare its financial results publicly, but in recent months has begun to disclose some of the data.

Waymo and Uber last week announced a settlement in a blockbuster lawsuit over allegedly stolen trade secrets from the former Google self-driving auto project.

Last year, Uber raised billions of dollars in funding, and a deal with SoftBank saw the Japanese conglomerate take an approximate 17.5pc stake in the ride-sharing company.

The investment served as a part of the firm's plan to reform its board structure, as it prepares to go public next year.

Uber is paying $245 million to Google's self-driving vehicle spin-off to end a legal brawl that aired out allegations of a sinister scheme that tore apart the once-friendly companies.