$ 5.8 billion in losses for Uber in 2020

Uber’s third quarter earnings report shows the continued negative impact of the new Corona outbreak on its business, but the company still aims to make a profit in 2021.

CNN Business reported that the company’s revenue was $ 3.1 billion in the past three months, down 18% from the same period last year.

Uber CFO Nelson Chai said the company remains confident it can turn a profit on an amended basis before the end of next year.

As for losses, the company said it lost $ 1.1 billion in the second quarter and $ 1.8 billion and $ 2.9 billion in the first quarter of this year. In total, Uber lost $ 8.5 billion in 2019.

So far in 2020, Uber has lost $ 5.8 billion. The results of the results came after U.S. Election Day, when Californians voted in favor of a vote defending the business model in which Uber pioneered. The company would be allowed to continue to treat its drivers as independent contractors in the country and not as employees.

Source: Al Qabas

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