Technology Uber's revenue hits $6.5 billion in 2016, still has large loss

14:13  15 april  2017
14:13  15 april  2017 Source:   Reuters

Yahoo's first-quarter revenue jumps 22 percent

  Yahoo's first-quarter revenue jumps 22 percent Yahoo Inc (YHOO.O) reported a 22.1 percent increase in quarterly revenue on Tuesday, ahead of the sale of its core internet business to Verizon Communications Inc (VZ.N). Yahoo said revenue from Mavens - the mobile, video, native and social advertising units that it has touted as key emerging businesses - rose 35.6 percent to $529 million(421.41 million pounds) in the first quarter ended March 31.Net income attributable to Yahoo was $99.4 million, or 10 cents per share in the quarter, compared with a net loss of $99.2 million, or 10 cents per share, a year earlier.Revenue rose to $1.33 billion from $1.09 billion.

For the final quarter of 2016 , gross bookings increased 28 percent from the previous quarter, to $ 6 .9 billion . But Uber ' s losses grew to 1 million in the period, as revenues grew 74 percent to .9 billion from the third quarter. In a separate emailed statement

For the final quarter of 2016 , gross bookings increased 28 percent from the previous quarter, to $ 6 .9 billion . But Uber ' s losses grew to 1 million in the period, as revenues grew 74 percent to .9 billion from the third quarter. In a separate emailed statement

Uber drivers' cars are parked outside the Ministry of Transportation building during a protest in Taipei © REUTERS/Tyrone Siu/Files Uber drivers' cars are parked outside the Ministry of Transportation building during a protest in Taipei REUTERS - Ride-hailing service Uber Technologies Inc generated $6.5 billion in revenue last year and its gross bookings doubled to $20 billion, the company said on Friday.

Its adjusted net loss was $2.8 billion, excluding the operation in China it sold last year, Uber said.

As a private company, now worth $68 billion, Uber does not report its financial results publicly. It confirmed the figures in an emailed statement after Bloomberg reported the results.

Uber did not provide first quarter figures, but a spokeswoman said they "seem to be in line with expectations."

Uber reportedly used 'Hell' program to stalk Lyft drivers

  Uber reportedly used 'Hell' program to stalk Lyft drivers The software was able to see how many Lyft drivers were available for passengers, where they were and which of them worked for both Lyft and Uber.In addition, a vulnerability in Lyft's system allowed Uber to see driver ID tokens, which did not change over time, learning each driver's individual habits, such as the times they were driving and the locations they preferred. And they were able to tell which drivers were working for Lyft and Uber at the same time, by matching the locations of their own drivers against the locations of the Lyft drivers. Using this information, they could coax those drivers to work for Uber only by offering incentives.

Uber generated $ 6 . 5 billion in revenue last year and its gross bookings doubled to billion.

Ride-hailing service Uber Technologies Inc generated $ 6 . 5 billion in revenue last year and its gross bookings doubled to billion, the company said on Friday. Its adjusted net loss was .8

For the final quarter of 2016, gross bookings increased 28 percent from the previous quarter, to $6.9 billion. But Uber's losses grew to $991 million in the period, as revenues grew 74 percent to $2.9 billion from the third quarter.

In a separate emailed statement, Rachel Holt, Uber's regional general manager for the United States and Canada, said: "We’re fortunate to have a healthy and growing business, giving us the room to make the changes we know are needed on management and accountability, our culture and organization, and our relationship with drivers.”

Uber has been rocked by a number of setbacks lately, including detailed accusations of sexual harassment from a former female employee and a video showing Chief Executive Travis Kalanick harshly berating an Uber driver.

The company is in the process of hiring a chief operating officer to help Kalanick manage it, repair its tarnished image and improve its culture.

Two of Uber's high-level executives recently said they intended to leave, and last week the company's communications head announced her departure.

(Reporting by Sangameswaran S in Bengaluru; Editing by Bill Rigby and Dan Grebler)

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