Uber has said it took $50bn worth of global bookings for its ride-hailing and food-delivery businesses last year, a 45% YoY increase. The latest announcement comes before it lists on the stock market in one of the biggest-ever flotations. Full-year revenue climbed 43% YoY to $2.2bn, with losses before taxes, depreciation and other expenses falling to $1.8bn from $11.3bn in 2017. However, revenue grew 2% in Q4 2018, demonstrating that Uber still has to significantly subsidise rides in competitive markets; a potential deterrent to investors.
Uber has said it took $50bn worth of global bookings for its ride-hailing and food-delivery businesses last year, a 45% YoY increase. The latest announcement comes before it lists on the stock market in one of the biggest-ever flotations. Full-year revenue climbed 43% YoY to $11.3bn, with losses before taxes, depreciation and other expenses falling to $1.8bn from $2.2bn in 2017. However, revenue grew 2% in Q4 2018, demonstrating that Uber still has to significantly subsidise rides in competitive markets; a potential deterrent to investors.