Uber’s net loss narrowed to $891 million in its second quarter ending June 30 from $1.1 billion a year earlier. Its adjusted loss before interest, taxes, depreciation and amortization was $614 million, down from $773 million a year earlier. Adjusted losses in the first quarter were $312 million, excluding gains from Uber selling some overseas businesses to local competitors. “We are cementing our leadership position,” in India and the Middle East, Khosrowshahi said. Uber has $7.3 billion in cash on hand, up a billion dollars from the end of the first quarter.

Source: bd News24 August 15, 2018 20:03 UTC