Uber loses $1.1B investing in food delivery, driverless cars | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
June 12, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, JUNE 12, 2025
Uber loses $1.1B investing in food delivery, driverless cars

Global Economy

LiveMint
07 February, 2020, 10:35 am
Last modified: 07 February, 2020, 10:43 am

Related News

  • Uber contributed to Bangladesh economy with Tk5,500cr worth of activities in 2024: Report
  • Ride-sharing driver arrested for reportedly trying to kidnap actress Nijhum
  • Taiwan blocks Uber's $950m Foodpanda deal over competition concerns
  • Taiwan blocks Uber's $950 mln Foodpanda deal: Bloomberg News
  • Uber celebrates 8 years in Bangladesh, empowering over 350,000 drivers

Uber loses $1.1B investing in food delivery, driverless cars

The ride-hailing giant lost $1.1 billion in the fourth quarter of 2019, about 24% more than the same time last year

LiveMint
07 February, 2020, 10:35 am
Last modified: 07 February, 2020, 10:43 am
Uber loses $1.1B investing in food delivery, driverless cars

Uber continued to lose money as it builds up its food delivery business and develops technology for driverless cars, but revenue for its rides business nearly tripled as the company picked up more passengers around the world.

The ride-hailing giant lost $1.1 billion in the fourth quarter of 2019, about 24% more than the same time last year. The loss amounted to 64 cents per share, which was slightly better than what analysts were expecting.

Analysts polled by FactSet predicted Uber would lose $1.18 billion, or 67 cents per share, during the quarter.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Uber brought in $4.1 billion in revenue, up 37% from a year ago. Its revenue grew around the world, although the biggest gain was in the US and Canada, where Uber pulled in 41% more than last year.

But its Eats business lost $461 million in the quarter before accounting for interest, taxes, depreciation and amortization, down 66% from the same time last year as Uber put money into growing the business in a highly competitive food delivery market.

"2019 was a transformational year for Uber and I'm gratified by our progress, steadily delivering against the commitments we've made to our shareholders on our path to profitability," said Dara Khosrowshahi, CEO, in a statement. "We recognize that the era of growth at all costs is over. In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution, and the unrivaled scale of our global platform."

In Uber's last earnings call, Khosrowshahi said the company's goal was to turn a full-year profit in 2021.

The fourth quarter was marked by painful disclosures at Uber.

In December, the company released a long-awaited report, in which its riders reported more than 3,000 sexual assaults during 2018.

The same month, Uber agreed to pay $4.4 million to end a federal sexual harassment probe about its internal corporate culture. But those announcements did not take a toll on the stock, which has been inching up over the past two months.

Uber's stock cratered after its IPO, falling 42% to a low of $25.99 in November. But it recovered some ground over the last month, reaching $37 on Thursday, about 18% below its IPO price.

Its losses in the fourth quarter included $243 million in stock-based compensation.

Top News

uber

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Keir Starmer declines to meet CA Yunus: FT report
    Keir Starmer declines to meet CA Yunus: FT report
  • Saifuzzaman Chowdhury. Photo: Collected
    UK crime agency now freezes assets of ex-land minister Saifuzzaman: AJ
  • Chief Adviser Muhammad Yunus speaks at the Chatham House in London on 11 June 2025. Photo: CA Press Wing
    No desire to be part of next elected govt: CA Yunus

MOST VIEWED

  • File photo of ex-prime minister Sheikh Hasina and her son Sajeeb Wazed Joy. Photo: Collected
    Joy spends Eid with Hasina in India: Indian media
  • Infofgraphics: TBS
    DGHS issues 11-point directive to prevent spread of Covid-19 in Bangladesh
  • Saifuzzaman Chowdhury. Photo: Collected
    UK crime agency now freezes assets of ex-land minister Saifuzzaman: AJ
  • File photo of BNP Standing Committee Member Amir Khasru Mahmud Chowdhury. Photo: Collected
    Khasru flies to London ahead of Yunus-Tarique meeting
  • Chief Adviser Muhammad Yunus speaks at the Chatham House in London on 11 June 2025. Photo: CA Press Wing
    No desire to be part of next elected govt: CA Yunus
  • Illustration: Khandaker Abidur Rahman/TBS
    Three hospitals ‘held hostage’ as discharged July uprising injured keep occupying beds

Related News

  • Uber contributed to Bangladesh economy with Tk5,500cr worth of activities in 2024: Report
  • Ride-sharing driver arrested for reportedly trying to kidnap actress Nijhum
  • Taiwan blocks Uber's $950m Foodpanda deal over competition concerns
  • Taiwan blocks Uber's $950 mln Foodpanda deal: Bloomberg News
  • Uber celebrates 8 years in Bangladesh, empowering over 350,000 drivers

Features

Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

13h | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

1d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

2d | Features
Photo collage shows political posters in Bagerhat. Photos: Jannatul Naym Pieal

From Sheikh Dynasty to sibling rivalry: Bagerhat signals a turning tide in local politics

4d | Bangladesh

More Videos from TBS

Why is Omicron XBB more contagious?

Why is Omicron XBB more contagious?

9h | TBS Stories
What did Dr. Yunus say at the Chatham House Dialogue in London?

What did Dr. Yunus say at the Chatham House Dialogue in London?

10h | TBS Today
News of The Day, 11 JUNE 2025

News of The Day, 11 JUNE 2025

12h | TBS News of the day
WB predicts worst decade for global growth since 60s

WB predicts worst decade for global growth since 60s

13h | TBS Stories
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net