Uber’s Wall Street troubles continue as shares continue to slide

International | Latest News | South East | Technology | Transport & Distribution

Global ride-sharing platform, Uber, saw their shares fall further after announcing profit figures that were lower than expected.

Uber’s losses increased to £4.3bn in the three months leading up to 30 June, from £728m in the quarter last year. The figures reflected £3.2bn of share-based compensation expenses related to its stock market listing earlier this year.

Total revenue at the firm rose 14.4% to £2.65bn, but fell short of estimates of around £2.8bn. Uber’s costs rose 147% to £7.2bn in the quarter, though this has been a trend among its competitors, such as Lyft.

Following the announcement, Uber saw their shares on Wall Street fall more than 13%.

Did you enjoy reading this content?  To get more great content like this subscribe to our magazine

Reader's Comments

Comments related to the current article

Leave a comment

Your email address will not be published. Required fields are marked *