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Active Uber/Lyft driver in Los Angeles, contributing writer for Rideguru and RSG (The Rideshare Guy), podcaster, rideshare driver coach, independent consultant to rideshare and tech companies.
4.96 billion in losses to be announced by UBER next week on their earnings report, Amazon's worst quarter was 548 million loss, they're beating Amazon on one thing so far, largest losses in history.
https://ride.guru/content/newsroom/will-uber-ever-be-profitable
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So basically if you just sat around for the past 3 months and played video games on your couch, you did better than uber. Yay!
😆😂😂😂
4.96B in one quarter?? For real?
Yep, one quarter. On Wall Street terms, it’s called the kitchen sink quarter. They’re taking all the losses down for the year, everything going forward will be just operational losses. August 8 is the day, let’s see how close I get to it.
That is bonkers.
How do we know this figure if it hasn't been announced yet?
That's the average analyst estimates, if it's less stock may even go higher, 😆
It was their goal to keep it &below* $5B, so they are fine
I wrote the above as a joke, but it's scary how there's probably some truth to it.
Whoa. I get that companies usually have to lose money before they can make it... but this is really jaw dropping.
They're taking all their losses in this quarter, going forward all operational results will be clean.