Now, after three weeks have passed for Uber is one of the biggest tech IPO had in so many years, we are able to take a look at the first earnings report this powerful company has left on Thursday.
We are easily able to see how Uber has 20% of revenue growth, but it also has a loss worth more than $1 billion! Wall Street analysts claim how they weren’t surprised by these two facts because that is exactly what they have expected to happen.
When it comes to the first quarter of 2019, we are able to see how the revenue advanced 20% to an incredible number of $3 billion, which is 34% increased when it comes to ride-sharing gross bookings and 36% when it comes to trip numbers.
Once we realized how huge the loss was, we decided to calculate that through shares. We got $2.26 per share.
Dara Khosrowshahi, Uber’s CEO, claimed how the company needed to take some serious steps, like becoming public in the previous month. She also added how they weren’t able to focus on their new strategies until then, and how that also may be the reason for their loss. Dara claims how the company is now ready to improve their worth and earnings.
Uber is still not disappointed. This company believes how they have still maintained proper leadership on all those ride-sharing categories that exist in all the regions they serve in.
Yet, not all is black or lost, because we can also see how Uber was definitely the best when it comes to IPO offerings of all the companies that went public earlier this year.
For example, until May 10th, Uber has offered shares worth $45 and gained more than $8.1 billion. Therefore, we believe how words of Khosrowshahi are definitely the truth.