While Uber has spent much of 2017 entangled in legal battles or managing negative publicity surrounding its allegedly sexist and overall toxic company culture, the company’s ride-hailing business continues to grow, albeit at a loss.
According to financials reported by Bloomberg, Uber’s gross bookings, i.e. total fares charged to Uber users before drivers get their cut, grew by 80 percent to nearly $10 billion in the third quarter of 2017. As our chart illustrates, Uber’s cut is much lower than that though, with actual net revenue amounting to roughly a fifth of gross bookings or $2.01 billion.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
What may be worrying to Uber’s shareholders is the rate at which the company loses money. Between July and September, the market leader in the ride-hailing sector lost a whopping $1.46 billion.
You will find more statistics at Statista
