SAN FRANCISCO: Uber Technologies Inc said that growth in bookings for its ride-hailing and delivery services rose 6 per cent in the latest quarter, the third quarter in a row that growth has remained in the single digits after double-digit growth for all of last year.
The San Francisco-based firm lost $1.07 billion for the three months ending September 30, a 20 per cent increase from the previous quarter but down 27 per cent from a year ago, when the company posted its biggest publicly reported quarterly loss on the heels of the departure of Uber co-founder and former Chief Executive Travis Kalanick.
Since CEO Dara Khosrowshahi took the helm more than a year ago, Uber has retreated from foreign markets where it had suffered heavy losses and shuttered certain pricey ventures including self-driving trucks. But Khosrowshahi has plowed the savings back into its freight-hauling, food-delivery, and electric scooter and bikes businesses.
Khosrowshahi has focused on growing Uber Eats, which took in $2.1 billion in booking revenue, marking a 150 per cent jump over last year and about 17 per cent of total bookings. — Reuters
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