{"id":9903,"date":"2021-08-05T10:05:15","date_gmt":"2021-08-05T14:05:15","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=9903"},"modified":"2021-08-06T08:45:08","modified_gmt":"2021-08-06T12:45:08","slug":"uber-records-509-million-adjusted-loss-on-driver-incentives","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/uber-records-509-million-adjusted-loss-on-driver-incentives\/","title":{"rendered":"Uber Records $509 Million Adjusted Loss On Driver Incentives"},"content":{"rendered":"\n<p>Uber reported a second-quarter loss of $509 million on Wednesday, exceeding analysts&#8217; adjusted EBITDA loss of about $324.5 million.<\/p>\n\n\n\n<p>The report comes despite gross bookings reaching an all-time high of nearly $22 billion as more passengers travel and orders for food delivery rise.<\/p>\n\n\n\n<p>The reported widening losses are solely due to Uber investing $250 million in incentives for drivers in the second quarter.<\/p>\n\n\n\n<p>Investors are concerned about the continuing shortage of drivers in the industry as demand rises, with Uber&#8217;s rival Lyft saying it expects the limited supply of drivers to continue in the next quarter.<\/p>\n\n\n\n<p>Overall, Uber reported revenue of $3.9 billion in the second quarter, beating average analyst estimates of $3.75 billion.<\/p>\n\n\n\n<p>Uber said on Wednesday that the number of monthly active drivers and food suppliers rose by nearly 420,000 from February to July.<\/p>\n\n\n<p>For more information, read the <a href=\"https:\/\/www.reuters.com\/article\/us-uber-results\/uber-posts-509-million-adjusted-loss-on-driver-incentives-even-as-trips-rise-idUSKBN2F52E0\" target=\"_blank\" rel=\"noopener\">original story<\/a> in Reuters.<\/p>","protected":false},"excerpt":{"rendered":"<p>Uber reported a second-quarter loss of $509 million on Wednesday, exceeding analysts&#8217; adjusted EBITDA loss of about $324.5 million.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[95],"class_list":["post-9903","post","type-post","status-publish","format-standard","hentry","category-data-analytics","tag-uber"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/9903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=9903"}],"version-history":[{"count":3,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/9903\/revisions"}],"predecessor-version":[{"id":9944,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/9903\/revisions\/9944"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=9903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=9903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=9903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}