Uber Disappoints Losses in the 3rd Quarter

The Uber chauffeur-driven booking platform, which is planning to enter the stock market next year, has widened its losses in the third quarter to more than a billion dollars.

Its net deficit stood at 1.068 billion dollars (880 million euros) in the third quarter against 891 billion in the second quarter. Almost more worrying, the turnover amounted to 2.952 billion dollars (2.6 billion euros), showing a slowdown of 5.4% growth over the previous quarter and 38% over twelve months.

Gross bookings, corresponding to the amounts received by Uber before payments made to the benefit of drivers and delivery drivers, reached $ 12.7 billion, up 6% from the second quarter. But over a year, this amount has risen by 34%.

Financial Director Nelson Chai said that “in view of an IPO and beyond” Uber is investing in the future growth of its platform, “particularly in the food, transportation and transportation sectors. goods, electric bicycles and scooters, as well as in high-potential markets in India and the Middle East “.

Uber also unveiled for the first time figures for Uber Eats, its home-based meal delivery business, which generated US $ 2.1 billion (€ 1.85 billion) in gross orders in the third quarter. up 150% from the same quarter last year, according to the US television channel CNBC.