Uber loses $1billion in 3 months (again); Lyft 'just' $644million

[watty]

 

Uber has more than 100 million users, but is still losing money

...
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.

[Taxi driver42]

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[Rat Catcher]

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.”