Yes, the sad news is up from Uber Technologies Inc. For yet another time and again yet another time, it is something shocking! But this time, the story of the loss of Uber Technologies Inc. just could not be less than $1.2 Billion. The news came uprightly from the business performance head Mr. Gautam Gupta when all the stakeholders of the Uber Technologies Inc. gathered in a summit to know more about the company. However, it was just the first half of the year being calculated and Uber Technologies Inc. already suffered a loss of $1.2 Billion!
According to the sources, the Uber Technologies Inc. had hosted a summit before another quarter of the year. Now the losses calculated for UBER on that summit was about $520 million. Later the loss amount to be calculated only inside the USA was about $100 million. Thus, summing up all the dues and the losses, the company is enforced with a loss of almost $1.27 billion, and it is the minimum. However, when everyone has tallied out, the subsidies of the Uber’s drivers would have been the most responsible for the losses.
For an instance, the bookings for Uber have grown up tremendously in the global platform. When compared with the previous session, the gross amount of booking took a steep rise from $3.8 Billion to $5 Billion. The net revenue almost grew up from $960 million to a steep rise of almost $1.1 billion. Now the profit percentage had a rough increase of about 18 percent and is great to use. Uber told all the investors that adding the services and the worth of Uber Pool, the revenue just gets increased in the $1.1 Billion contributions.
It is indeed quite hard for Uber to sum up the losses and then gain a profit back to get back a position in the market. Uber is a seven-year-old company and the huge market share they have brought out is quite high indeed. However, Uber is a seven-year-old company, and the total losses they have faced are just more than $4 Billion. Now competing with all the losses from globalization, Uber ranks first among assisting more than Amazon for losses of almost $1.27 Billion in just two months!
According to the sources, Uber is still holding a place of about 84 to 87 percent in the market which will bring the market share in the place. However, with the market share in the USA, there are a lot of things more which the Uber market is feeling to share. Infact, the market of Uber is continuously rising and making steep changes in the field. Thus, the Uber market shares have a lot more to offer for the people. In the recent news, the UBER is planning more to spend on its revenues and make it an increasing market in China. It has almost earned a lot of more interests in the people to make the market contribution of Uber much better. However we all are hoping that the company does better in the second half of the year!
By: Shalini Mukherjee