Business Uber lost more than 7,700 million euros in 2019

Uber lost more than 7,700 million euros in 2019


Uber Technologiesrecorded losses amounting to8,506 million dollars(7,764 million euros) in 2019, compared to the net attributable profit of 997 million dollars (910 million euros) of the previous year, according to the company, which has advanced in late 2020 the fulfillment of its profitability objective andtrust to grow in Spainand other countries where in the past it has had regulatory difficulties.

The revenues of the platform in 2019 totaled 14,147 million dollars (12,912 million euros), 25.5% above the turnover recorded the previous year, although operating expenses grew 59%, up to$ 22.743 million(20,758 million euros).

In the fourth quarter, Uber recorded losses of 1,096 million dollars (1,000 million euros), which meansraise your ‘red numbers’ by 23.5%from the same period of 2018. On the other hand, the turnover of Uber between October and December grew by 36.8%, to 4,069 million dollars (3,714 million euros).

“Our progress in 2019 and our plans for 2020 give me the confidence to challenge our teams to accelerate our Ebitda profitability objective from 2021 to the fourth quarter of 2020,” he said.Dara Khosrowshahi, CEO of Uber, during the conference with analysts after the publication of the company’s accounts.

In this sense, the first Uber executive stressed that the company intends to anticipate its profitability objective “assuming only a modest improvement in the current competitive environment and without significant changes in the business portfolio”.

“There are a number of countries that I mentioned as growing countries, includingArgentina, Germany, Japan, Spain… where we think theregulatory framework, which has not been constructive in the past, can be constructive, “Khosrowshahi added, noting that the company wants to boost its activity in those countries” in the right way. “

For his part, Nelson Chai, CFO of Uber, acknowledged that “there is still a significant jobto achieve the milestone of reaching the company’s first positive Ebitda quarter by 2020 “.



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