I'm amazed they're still going.
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Uber Posts $5.2 Billion Quarterly Loss; Sales Miss Estimates
- Thread starter Stoopkid
- Start date
I'm amazed they're still going.
What's up with the sensationalist headline and thread title? Most of that loss was a result of the IPO.
Just read the blurb you posted. It's a result of the IPO. It's a one quarter loss for posting up their stock to the public. Their actual losses are not near that bad. 656 million loss which was actually less than was expected for real losses. They beat estimates on that.
Well, at least there's Lyft as janky as that can sometimes be. Some cities just couldn't operate properly without ride sharing. Public transportation has too many gaps
Also you OP kind of makes it seem more dire than it is when even in the section you quoted it said
Also you OP kind of makes it seem more dire than it is when even in the section you quoted it said
Basically a bunch of people cashed out on the IPO. Bay Area will probably take another hit with another surge of millionaires.
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Not really sensationalist when they already posted a billion dollar loss earlier in the year.
Plus they're still predicting losses for the next cpl years.
Maybe we could actually fund public transit properly... :(
I've seen two threads now asking the "are you a robot" question in the OP. What is that? The link works properly.
I live in Boston and we keep getting rate hikes with nothing to show, so I'm not optimistic. Also, how does a city have bars close between 1-2am when public transportation stops before 1am?!
Well aside from the IPO reasons stated, heavy investment into automatic vehicle research
Used one the other day for the first time. Six quid and it would've cost double in a taxi. Honestly the ease and simplicity of it was wonderful.
Damn imagine if we invested money into public infrastructure that served a purpose for the public instead of being stressed about generating value for investors wild idea
But then poor, urban neighborhoods could more easily make it to the places white folks occupy! Won't you think of the sheltered upper class??
They're pumping a ton of money into the self driving stuff right?
Sadly this forum's financial literacy is relatively poor.
And shocker, the stock is up 8% today!
It was up 8% before earnings. Now down 4% after hours but still net positive compared to yesterday's close.
The guy in charge will get elected to a political position in a few years. Republicans love voting in people who fail at running businesses
That literally goes for all advice on this forum from games, to politics to finance. This is a video game forum after all lol.
The problem is that they don't have much to show for it. All these losses are because they are undercharging — they are just burning money and not investing in any actual infrastructure.
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Shares were down 10% after the results.
They missed on revenue and eps expectations.
Even without the ipo losses they lost 1.3 billion.
But yes the forums financial literacy is poor...
The stock pared back most of the losses afterhours - it's only down 3% from today's close, and today's close was 8+% up on Wednesday's close, meaning the stock is still up this week despite the results.
EDIT: My mistake, I hadn't realised they released earnings after hours, but my point still stands
Could've sworn they gave up on that years ago when Dana joined. They're crossing their fingers that Tesla, Ford, Apple, Google, or somebody figures it out soon. I would invest in those companies if your goal is exposure to auto driving tech. Be the shovel seller, not the gold digger, etc etc.
If they ever go under, or these ride sharing companies have to stop subsidizing the true cost of a ride, I wonder how society will react? I fill like ride sharing is ingrained within society to such an extent that I can't fathom life without it.
Cities seemed to operate fine before ride sharing came along.
The entire point of Uber's move into taxi services has been to try and get a foothold into the market for when the self-driving change happens.
The problem is that the rosy estimates of when that transition would be able to happen aren't panning out, and the entire "doorstop" model was built around subsidizing user's rides, which is why fare increases/pay decreases are likely inevitable.
I think at some point they realized that the cost of maintaining a massive fleet of self-driving cars that need gas, repairs, and maintenance is probably just as much as expensive as having human drivers. Now they're just treading water.