Revenue growth in Uber taxi service is fading


The turnover of Uber Technologies, the company behind the famous taxi app, continues to grow strongly, but the pace is weakening considerably. In addition, the company continues to write red numbers while working on an IPO in New York.

Turnover went up by 43 percent last year to 11.3 billion dollars, but in 2017 this was an increase of 61 percent. Furthermore, Uber suffered an underlying loss of $ 1.8 billion, against a minus of $ 2.2 billion a year earlier. Including the sale of activities in Russia and Southeast Asia, the company recorded a profit of $ 370 million. A year earlier there was a net loss of 4.5 billion dollars.

Uber benefits from the increase in passenger bookings, but its profitability is weighed heavily for the many investments that Uber makes. For example, the company spends large amounts on, for example, research into self-driving cars and investments in meal delivery services.

Uber would soon make his debut on Wall Street. The valuation would be as much as $ 120 billion. Among the largest investors in the San Francisco-based company in 2009 is the Japanese technology group SoftBank.

The company is not listed on the stock exchange and is therefore not obliged to publish results, but does so because of the great interest of investors in Uber and because a lot of information leaked out.

By: Abaigael Schlomski

Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.

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