Taxi drivers take part in a demonstration in central Budapest, Hungary, on June 16, 2015. Hundreds of taxi drivers turned up in their yellow cabs at a demonstration against unregulated car-sharing apps such as Uber, demanding the government to carry out a solution. (Xinhua/Attila Volgyi)
Taxi drivers take part in a demonstration in central Budapest, Hungary, on June 16, 2015. Hundreds of taxi drivers turned up in their yellow cabs at a demonstration against unregulated car-sharing apps such as Uber, demanding the government to carry out a solution. (Xinhua/Attila Volgyi)

Ride-hailing company Uber is still struggling with the impact of the coronavirus pandemic but managed to significantly reduce its losses in the first quarter of 2021, reporting a net loss of 108 million dollars.

In the same quarter last year the net loss amounted to nearly 3 billion dollars.

The results benefited from the sale of the company’s self-driving technology arm ATG.

The main business continued to struggle due to the pandemic, with revenues falling by 65 per cent.

Overall, group-wide sales fell by 11 per cent to 2.9 billion dollars.

Boss Dara Khosrowshahi said he was satisfied despite the significant decline, emphasizing that the business had already recovered quite well.

“Uber is starting to fire on all cylinders, as more consumers are riding with us again while continuing to use our expanding delivery offerings,” he said.

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

Previous articleAir France-KLM Q1 loss narrows
Next articleVW shrugs off pandemic effects in Q1, but chip supply a problem

LEAVE A REPLY

Please enter your comment!
Please enter your name here