Uber, losses of 1.2 billion dollars but growing revenues

2 'of reading

New quarter in deep red for Uber, even as revenue grows. The American and global giant of the ride-sharing, which this year after its debut on the Stock Exchange has been at the center of intense controversy over the excessive valuations of the new leaders of the digital economy, he reported losses of almost 1.2 billion dollars in the third quarter of the year.

If the liabilities were lower than what the analysts feared, equal to 68 cents per share against 81 cents, however, it kept the pressure on the group high due to the lack of profitability, in a climate of increasingly fierce competition and strict regulation and supervision.

The loss was among the heaviest since the company began to publicly disclose in 2017, behind the record of 5.2 billion in liabilities recorded in the immediately preceding three months and burdened with extraordinary expenses for 3.9 billion euro linked to the cost of listing on Wall Street in May.

Revenues up to 3.8 billion dollars
Instead, the recent revenue march was more comforting: they increased by 30% at 3.8 billion dollars, more than 3.6 billion expected on average from the market. Uber is betting not only on the continuous development of its services as an alternative to taxis, but also on new diversified businesses, from self-driving cars to the delivery of food and meals, to logistics and transport. Details and confidence in these plans, however, are still hidden among investors.

In the after market, in this atmosphere, the answer to the accounts was nervous and tinged with concern: the title gave up 5% after having already closed the session down by 0.9%, despite the record air that reigns among the large stock indexes. Uber's chief executive, Dara Khosrowshahi, is trying to revive together the image and performance of Uber after years marked by controversy and scandals, linked to the company's aggressive internal culture and treatment of driver-workers.