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Even big fare hikes and cuts to driver pay have failed to produce profits at Uber. And these pricing changes are not likely to be sustainable.
Uber burns through yet more cash, but analysts and reporters fail to question its extremely misleading financials.
How Uber keeps pumping hot air into a financially flaccid business.
Yves here. Hubert Horan continues his chronicle of the deterioration of Uber’s finances. And you can only blame so much on the pandemic. By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants Last Thursday, Uber announced a full year 2020 GAAP loss of $6.8 billion with a GAAP net margin of (-60%). As discussed in the context of the mid-year results presented...