In 2018, Dara Hosrovashahi's first full year as Uber CEO, the company cut its losses and continued to increase its revenue, albeit at a slower pace than in the previous year. According to the company's financial statements, revenue for the year to 2018 was $ 11.3 billion, up 43% from a year earlier. a year earlier, a slowdown of the 61 percent growth in 2017
Gross bookings, or the amount collected before paying drivers, rose to $ 50 billion a year, up 45 percent from the previous year, and its adjusted losses have fallen by 15% in 2018 to $ 1.8 billion from $ 2.2 billion in 2017. Including these two sales in Yandex and Grab respectively , Uber actually reported a profit of GAAP of $ 370 million, and losses in GAAP for 201
Khosrowshahi took over Uber in November 2017. He inherits a company that is fast but he loses billions abroad and is shaken by controversy and struggle One of his first steps was to withdraw from Russia A few months later he sells Uber's unprofitable business in Southeast Asia.
He has hired Chief Financial Officer and Chief Operating Officer, and so far appears on track to bring the audience to the company this year.
At the same time, Khosrowshahi is the big expensive bets, such as the acquisition of Uber to launch the Bicycle and Scooter Championship, and the doubling of the Uber Eats expansion.
At the start of the IPO for 2019, Uber is getting on as a complete platform for transport and logistics, not just for riding. The company hopes that projects such as Uber, electronic bikes, autonomous driving, and the development of flying cars will help them to own part of every journey through each vehicle. These segments, however, are costly for the development of Uber, weighing Uber's long-term profitability
On a quarterly basis, Uber continues to report heavy losses and slowdown in growth.
In the fourth quarter of 2018, Uber reported a corrected loss of $ 768 million. $ 358 million Benefit from income tax reduced losses that could be more than 840 million dollars. This is the highest value ever, investors say. Revenues amounted to $ 3 billion for the quarter, a 25% increase over the same quarter last year.
The Uber's take rate, or the percentage of revenue Uber makes for each gross reservation, decreases in Q4. The company told investors that the decline was due to continued investment in new business lines and increased competition.
Uber now looks at supplying food to part of his core business, along with riding. While in the fourth quarter he failed to pull UberEats, this segment accounts for 17% of its business in the third quarter. Already in October, Uber said that by the end of 2018, expanding its food supply business to cover 70% of the US.
Uber can spend more in its previous IPO to increase its market share. Second Measure's research firm shows that Lyft, Uber's biggest competitor in the US, has taken over 28.9% of the market in the past year. Lyft is also preparing for IPO this year and the two companies are struggling to go first.
Uber's Chief Financial Officer Nelson Chay called the company's 2018 strongest year. Q4 has set another milestone for our platform's commitment, "said Tea in a statement." In 2018, our submarine-management company retained its leadership in all the regions we serve , Uber Freight has gained exciting traction in the US, the largest online food supply business outside China based on gross bookings. "