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The company Uber lost a staggering $ 6 last year, 800 millions of dollars. And, although it may not seem like it, this is good news , according to CNN Business.
Uber had in 2019 losses greater than $ 8, 500 millions of dollars. During the year of the pandemic, the company sold expensive companies, cut staff and focused on what its CEO called “ profitable growth “.
With respect to last three months of 2020 , the company ensures that lost $ 968 million dollars . Losses include 236 million in stock-based compensation expenses, much lower than the nearly $ 1, 100 millions of the previous year. Chief Financial Officer Nelson Chai said in a statement that Uber remains “well on track to meet our profitability targets at 2021.”
Uber has said it aims to achieve profitability on a tight basis before the end of this year. Like Lyft, which released its fourth quarter results on Tuesday, Uber saw some improvement over the third quarter of last year , but still their income fell due to the impact of the pandemic. The company earned $ 3, 200 million dollars in the fourth quarter, a 16% less than in the same period of the previous year.
The company has continued to rely on Eats , its food delivery business, which in the fourth quarter of 2020 increased their income by 224% Compared to the same period of the previous year. While this business reached $ 1, 400 million dollars, travel revenue fell by 52% up to $ 1, 500 million dollars.
