Uber generated $1.75 billion in adjusted net revenue in the second quarter of this year, up 17% from the prior quarter. Uber narrowed losses by 9% to $645 million. Travis Kalanick, Uber’s co-founder, resigned as CEO on 20 June, only several days before the end of the second quarter. At the end of the second quarter, Uber had $6.6 billion cash on hand. Uber, which remains a private company, has been doling out its financial results to news outlets every quarter after years of periodic leaks.

Source: Mint August 24, 2017 03:00 UTC