Uber Is Reportedly Bleeding Money, But They May Not Care | NBC 5 Dallas-Fort Worth
National & International News
The day’s top national and international news

Uber Is Reportedly Bleeding Money, But They May Not Care

The ride-hailing company is said to have lost a staggering $800 million in the third quarter of this year

    processing...

    NEWSLETTERS

    AP Photo/Eric Risberg, File
    In this Dec. 16, 2014, file photo a man leaves the headquarters of Uber in San Francisco. The ride-hailing app has reportedly been hemorrhaging money at a less than ideal rate as it seeks to grow its business and fend off aggressive competition from its chief competitor, Lyft.

    Uber appears to be taking its cues for world domination from a gym rat's mantra: No pain, no gain. 

    The ride-hailing app has reportedly been hemorrhaging money at a less than ideal rate as it seeks to grow its business and fend off aggressive competition from its chief competitor, Lyft.

    New Orleans to Remove Confederate-Era Monuments

    [NATL] New Orleans to Remove Confederate-Era Monuments

    The city of New Orleans will remove four statues of Confederate-era events and figures in an effort to divorce itself from symbols that some see as problematic. The first statue, the Liberty Place Monument, was taken down early Monday morning. 

    (Published Monday, April 24, 2017)

    "Uber has been been growing dramatically and their ridership numbers have increased quite a bit this year," Mike Ramsey, a research director at Gartner who covers mobility, told NBC News. "As a result of that, to get new drivers, to maintain drivers and to expand into new markets, they are spending a lot more money."

    Uber, which is privately held and said to be worth as much as $69 billion, does not disclose its financial statements. But the company is said to have lost a staggering $800 million in the third quarter of this year, and $2.2 billion in the first nine months of the financial year, according to reports from The Information and Bloomberg, which both cited unnamed sources.