Uber losses widen as driver incentives rise along with trips

Published by
Reuters

By Tina Bellon and Akanksha Rana (Reuters) -Uber Technologies Inc on Wednesday reported widening losses even as trips and deliveries grew as driver incentives hit revenue at the ride-hail and food delivery company. Uber posted an adjusted $509 million second-quarter loss before interest, taxes, depreciation and amortization – a metric that excludes one-time costs, including stock-based compensation – widening losses by nearly $150 million from the first quarter. Uber shares were down 8% in after-hours trading after closing the regular session down 2.2%. The company also warned investors that u…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *