Uber Technologies Inc. (NYSE: UBER) Loss Greater than $1 Billion in Q1 2019, Public Transportation Service an Option

June 5, 2019 11:28:29
  • Uber reported a loss of $1.03 billion in Q1 2019; analysts see public-private transportation partnerships as a profitable option
  • Uber posted 41 percent YOY growth in gross bookings in Q1 2019 at constant currency, excluding the impact of divested operations
  • Offering public-transportation substitute services may be the solution to the “first mile, last mile” problem

Uber Technologies Inc. (NYSE: UBER) posted an operating loss exceeding $1 billion for its Q1 2019 (http://nnw.fm/j7q2V), the three months ended March 31, 2019. The loss represents a 116 percent decline from its $478 million loss during the same period in 2018. One potentially profitable option ahead is replacing public transportation in public/private partnerships, according to an opinion article in The New York Times (http://nnw.fm/m8xHs). To begin that strategic move, the company would offer substitute services that fill in public-transit gaps.

Uber posted revenue of $3.1 billion for Q1 2019, marking a 20 percent increase from the $2.6 billion that it recorded for the same period of the prior year. The global ride-hailing company reported 41 percent growth in gross bookings in…

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