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From the article: > Even in the U.S., Uber's home market, the company continues to lose money. After turning a slight profit in the in the first quarter of thi
by nstj 10y ago
From the article:
> Even in the U.S., Uber's home market, the company continues to lose money. After turning a slight profit in the in the first quarter of this year, Uber lost $100 million in the U.S. in the second quarter. The loss increased in the third quarter, the person said.
I thought that they'd turned the corner in the US too, but go figure. I guess the claim that Travis makes about driverless cars relates to their profit margin as much as it does to their long term competitive advantage [0]:
> Developing an autonomous vehicle, he adds, “is basically existential for us.”
[0]: https://www.bloomberg.com/news/features/2016-08-18/uber-s-first-self-driving-fleet-arrives-in-pittsburgh-this-month-is06r7on https://www.bloomberg.com/news/features/2016-08-18/uber-s-fi...
- ylhert 10y agoThe US is not a mature market for Uber, it still includes a huge amount of cities where Uber is still relatively new and has yet to reach profitability. My understanding is that the profitable markets are places like SF or LA where Uber has been around for 5 years
- nstj 10y agoInteresting - didn't know you were talking on a per city basis. Anything to back up the claim of profitability in these cities?
- pfarnsworth 10y agoEarlier this year, the CEO said the top 30 cities earned > $1B in profits for Uber.