Uber narrowed losses by 9 percent to $645 million. Travis Kalanick , Uber’s co-founder, resigned as CEO on June 20, only several days before the end of the second quarter. Uber doesn’t include the cost of stock-based compensation in its losses.At the end of the second quarter, Uber had $6.6 billion cash on hand. Its head of finance, Gautam Gupta, left Uber this year for the startup OpenDoor . He was replaced temporarily by Prabir Adarkar, whose promotion to vice president was announced to the company on Tuesday.

Source: Economic Times August 24, 2017 03:11 UTC