Irish Taxi Forum
Public Area => Taxi Talk => Topic started by: watty on August 09, 2019, 05:38:52 pm
-
oops
Uber has more than 100 million users, but is still losing money (https://www.engadget.com/2019/08/08/uber-100-million-users-q2-earnings/?guccounter=1)
...
Uber's net loss over the quarter amounted to $5.24 billion, but that's perhaps not quite as bad as it seems on the surface. The majority ($3.9 billion) is a result of stock-based awards to employees after its IPO in May. It also doled out a $298 million "driver appreciation award" related to the IPO. Even discounting those, Uber lost over $1 billion for the second quarter running.
By way of comparison, rival Lyft reported its earnings yesterday. It posted record quarterly revenue of $867.3 million, up 72 percent year-over-year. It lost $644.2 million overall. Making more money off each rider helped, though. Over the three months, it had 21.8 million active riders. They generated an average of $39.77 each -- that's an increase of $1.91 per person from the previous quarter.
-
Who wants shares?
Share the losses
-
From another thread, covering the death of one of the founders of licensed parasites, Paddypower:
“He came up to me outside the old Department of Industry and Commerce building in Kildare Street, and said ‘I’ve got this great idea; we’ll be prepared to get market share, not short-term profits . . . if we go for market share, and they [the British] go for short-term profits, there can only be one winner.”