Worst quarter ever for shared mobility company Uber: revenues increased by just 14 to 3,17 billion (the weakest increase ever, while analysts had expected a reading of 3,3 billion) and furthermore the subsidiary Uber Technologies closed the April-June period with a loss of $5,23 billion. On the accounts of the San Francisco company, which provides a private car transport service through a mobile application that connects passengers and drivers directly, increasingly fierce competition begins to weigh: car sharing or ride sharing services are now proliferating, especially in Latin America (where revenues have fallen by 24% annually to 547 million dollars), and the company founded by Travis Kalanick is also affected by the huge costs relating to the listing on Wall Street.
The accounts therefore show that Uber's business is still growing, but also that the company is finding it increasingly difficult to manage competition from other ride-hailing companies globally. However, the CEO, Dara Khosrowshahi, believes that the costs for drivers, which have significantly increased, are destined to fall, while the company continues to expand into areas like Uber Eats, which is food delivery. A market where, however, aggregations (above all recent merger between JustEat and Takeaway.com, but also the counter-moves of Deliveroo) are creating increasingly structured players with whom to compete: “We continue to have new markets. We continue to have companies like Eats that have amazing growth rates,” the CEO pointed out.
