India's retail inflation static at 3.28% in September
Canadian Police Confirm Somalian Terrorist Was Identified as Threat in 2015
GM to launch new EVs, says future is all-electric
Uber's revenue hits $6.5 billion in 2016, still makes large loss
16 April 2017, 02:21 | Maryann Sutton
Justin Sullivan Getty Images The Uber logo is seen in front of its headquarters
Uber has released a very controlled peek at its financial situation to Bloomberg, a first for the ride-hailing giant that's exercised its right as a private company to tell the public as little as possible about its profits and losses.
Uber lost $1.2 billion when stripping out taxes, adding in the Didi shares it received in exchange for its money-losing China business, and accounting for other unnamed factors, according to the company's Bloomberg interview.
In 2016 gross bookings at the scandal-hit transport group reached $20bn (£16bn), while its net revenue came in at $6.5bn.
Uber's loss was an adjusted $2.8 billion for 2016.
The majority of the bookings went to Uber's drivers, who typically take home around 75% of each fare, leaving the San Francisco firm with $6.5 billion in revenue.
Despite Uber's rapid growth previous year, the ride-hailing company lost $2.8 billion.
Jeep Grand Cherokee Reveals Its 707-Horsepower SUV
The vehicle also comes with a strengthened rear drive shaft and a beefier front suspension with coil springs and control arms. And just to ensure there is no doubt, there are "Supercharged" badges on both front doors and a Trackhawk logo on the hatch.
"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", Rachel Holt, who runs Uber's USA ride-hailing business, said in an email.
Uber is in the process of hiring a second-in-command for chief Travis Kalanick, who remains in the driver's seat as the company tries to plot a friendlier course with workers, riders and drivers. The company was spending aggressively to compete in China, with about $1 billion in losses there a year ago, bringing its losses to $3.8 billion globally.
The ride-hailing company, for a period of time, was known as the best disruptive startup that was busy posting new records for growth and its leadership would welcome the storyline to return to that topic and not the current one. But on a quarterly basis, the company continued to grow sales at a fast clip in the second half of the year while keeping losses constant.
Finn Balor Suffered Injury On Raw Last Night
That beer throw means that Gronk and Mahal officially now have the world's most intense drink-throwing feud going. It was because of what Rob Gronkowski did that Mojo Rawley was ultimately able to defeat Jinder Mahal .
DNA leads to arrest in murder of jogger in Massachusetts
Prosecutors have charged Colon-Ortiz with aggravated assault, aggravated assault and battery, and assault with the intent to rape. The Millbury State Police barracks, where sources tell WBZ-TV the suspect arrested in the Vanessa Marcotte murder is being held.
Sensex vaults 213 points ahead of economic data, earnings
Meanwhile, the foreign funds sold net Rs 716.19 crores yesterday, as per the provisional figure issued by stock exchanges. However, gains were capped due to caution over the rising tensions in the Middle East and political uncertainty in Europe.
Tales In Tech History: RIP Windows Vista
Today's milestone for Windows Vista means that Microsoft will no longer offer any security or software patches for the OS. The takeaway from all of this: This is what happens when you refuse to upgrade to a current operating system.
News anchor caught off guard; her reaction is priceless!
Not my finest hour, ' she wrote. "So whether there's any follow-up there, I reckon you'll find she'll be reinstated", she added. A petition even appeared on Change.org, calling for ABC to reinstate Exelby, gaining almost 5,000 signatures.
Yankees worth big league-high $3.7 billion
She wrote: "It's top of the seventh here at yankee stadium and the Yankees are pitching a ideal game versus the Tampa rays ". For today's home opener, the Yankees will send Michael Pineda to the mound while the Rays will counter with Alex Cobb .