Uber Posts $708M Loss as Finance Head Leaves

Post by dexterdog » Thu, Jun 01, 2017, 1:47 AM UTC

objclxt wrote: post #39

bpodgursky wrote: post #13

$708 million loss, narrowed from $991 million last quarter 18% growth from last quarter (note: that's not Y/Y. this is ridiculously fast, given the huge base.) 708mm loss / 3.4 billion in revenue is only about 20% under even. And what most people miss, is that the 3.4 billion is the 30% cut Uber takes from a ride. Prices don't have to rise 20% to break even, prices have to rise 6% (assuming no efficiency improvements…

> And what most people miss, is that the 3.4 billion is the 30% cut Uber takes from a ride. Prices don't have to rise 20% to break even, prices have to rise 6% No, they have to rise by more than that. Your math is technically correct (a 6% rise gives you an extra $700 million), but you are assuming that the price increase goes entirely to Uber. There is no way Uber can increase prices by 6% and give none of that upsi…

Post by bitmapbrother » Thu, Jun 01, 2017, 2:01 AM UTC

Post by HXFIVE » Thu, Jun 01, 2017, 2:02 AM UTC

threeseed wrote: post #55

nullnilvoid wrote: post #44

Earlier quoted context omitted.

Many of my friends open both Lyft and Uber. They choose whichever is cheaper. Sure, Lyft might take a few more minutes to arrive. If you time it well ahead, it does not cost you more time. For me, I would rather take Lyft even if it is a little more expensive and takes a little longer. I hope Lyft catches up and makes it a real competition, which benefits consumers eventually.

In Australia we only have Uber and taxis. Nobody is switching to taxis because of a 10% price increase. Because most people are using Uber for the fact that they will always come, always pick you up and always drop you off at the right spot. So it's fantastic that Lyft is doing okay in the US. But Uber is playing a whole different game.

Post by rtx » Thu, Jun 01, 2017, 2:03 AM UTC

lelandbatey wrote: post #62

skinnymuch wrote: post #54

Earlier quoted context omitted.

I'm not buying that most people use Lyft in your area - passengers or drivers. I believe you think that and your circle of people may also be doing the same, but beyond that, I'm guessing there's a lot of bias. Especially if you're saying everywhere you go Lyft seems to be more popular among riders. It's just not true at all. For my own anecdote, I'd bet 75% of my FB friends with smartphones within my age range, 21-4…

As long as we're sharing anecdotes, most of the people I know, parents and young kids included, have made the switch to Lyft starting about 8 months ago. They seem to be the less evil company, so people enjoy working for and using them.

Post by dingo_bat » Thu, Jun 01, 2017, 2:06 AM UTC

bitJericho wrote: post #35

randomdrake wrote: post #15

Great example of how the headlines can drive a story more than the story itself. While Uber may have posted $708 million of losses, it is also up 18% in revenue from last quarter. That's 3.4 billion dollars in the first quarter of 2017. Uber is making approximately $1,500,000 per hour. I dislike Uber as much as the next person for ethical reasons, but a company that can achieve millions of dollars in revenue per day,…

I buy gas from across the street for 3 dollars a gallon. I sell it for 2. I sell 1.5 million dollars an hour. My business is doing great.