San Francisco : Uber has disclosed that its quarterly loss jumped despite taking in more money, as it invested in scooters and other “big bets.”
The smartphone ride star reported it lost $891 million on net revenue of $2.8 billion, while overall bookings rose to $12 billion. “We had another great quarter, continuing to grow at an impressive rate for a business of our scale,” said Uber CEO Dara Khosrowshahi.
He added that Uber is investing in “big bets” including restaurant take-away delivery service Uber Eats and “environmentally friendly modes of transport” like Express Pool, e-bikes and scooters. It is devoting resources to what it sees as high-potential markets in India and the Middle East, according to Khosrowshahi. Uber has made a practice of disclosing its earnings, despite not being required to since it is a private company. It said in May that its revenue revved up in the first quarter of this year and that its value climbed to $62 billion in a new funding round.