Ride-Hailing Services Struggle for Profitability in 1Q | Auto Finance News | Auto Finance News

Ride-Hailing Services Struggle for Profitability in 1Q

Uber Technologies posted a $1.03 billion loss during the first quarter, more than double the $478 million loss recorded in the prior-year period, according to the company’s first-ever quarterly earnings report. Despite a 20% year-over-year increase in revenue to $3.1 billion, the San Francisco-based mobility company has struggled to maintain profitability. Since its inception, Uber […]

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