nonut:
Google is your friend.

pmc01:
You're one funny bro, honestly.

pmc01:
Pardon my ignorance, how does the loss demonstrate the company is "healthy and resilient"? Is it that previous quarterly postings has recorded heavier losses than this?

ephi321:
So their costs outweighed all the revenues made... what exactly are they spending money on?

Willie2015:
They dont understand that Naija na hostile environment. Dem neva jam, by the time govt tax authorities visit their office for different fees & levies. Dem go pack their load finally...

ttmacoy:
Growing and expanding the business into new countries and products e.g. they just started Uber Eats, some service for pets and Uber trucks etc.

Most start ups make a loss for a few years as they reinvest in the business to grow it. Same with Google, Facebook, Amazon etc. The important thing is the cash generation and growth of the company.

pmc01:
Pardon my ignorance, how does the loss demonstrate the company is "healthy and resilient"? Is it that previous quarterly postings has recorded heavier losses than this?

ephi321:


Right, the expansion bit makes sense. I know startups do struggle in the early years but Uber does not purchase/own the cars used by their drivers so besides salaries and commissions, I still find it hard to understand why they lost that much money.

ttmacoy:
Given it's a private company it's hard to say for certain the biggest expense headers on their financial results, but my guess would be money spent fighting competition will hit the P&L, expanding into new countries, lobbying governments, fighting attacks from traditional taxi companies etc. will play a part. Investment in new products and market will be a big cost as well e.g. I know Uber is investing in research for driverless car and truck technology etc.

As I said just a guess, we wouldn't know for sure till they start releasing more information before IPO. Good thing is revenues are rising and losses reducing steadily so looks good.

ephi321:


I actually remember reading they were in a running battle with London black cabs, not sure what the outcome was. Research is also not cheap. So yes, that makes sense. Thanks.

Arian11:
6 FTC's in one dat...i mean nairaland ...this has to be some sort of record or something

when is my name gonna be on the NL wall of fame

back to the topic

i think they caused it for themselves after that controversy at the airport in the states and then the uber drivers protest in nigeria.

ttmacoy:
You're welcome.

I saw an article where the head of Finance claims the below:

Bloomberg’s sources say that Uber Head of Finance Gautam Gupta pointed at driver subsidies as the source of the majority of the loss, but did not go into detail.

https://www.pddnet.com/news/2016/08/uber-reports-loss-drivers-are-biggest-expense

pmc01:
Pardon my ignorance, how does the loss demonstrate the company is "healthy and resilient"? Is it that previous quarterly postings has recorded heavier losses than this?

ephi321:
So their costs outweighed all the revenues made... what exactly are they spending money on?

pmc01:
Pardon my ignorance, how does the loss demonstrate the company is "healthy and resilient"? Is it that previous quarterly postings has recorded heavier losses than this?

Arian11:
6 FTC's in one dat...i mean nairaland ...this has to be some sort of record or something

when is my name gonna be on the NL wall of fame

back to the topic

i think they caused it for themselves after that controversy at the airport in the states and then the uber drivers protest in nigeria.

DollarAngel:


Get a job or go learn a skill, instead of spending the whole day on NL, Bless

Lilimax:
Uber works and is profitable in many countries and I know ours in Naija will not be different

Arian11:
im sure i earn more than you while interning but hey..who's arguing