GetSwift Partners with Uber

GetSwift Technologies Limited (NEO: GSW) (“GetSwift” or the “Company”) is pleased to announce that today it has signed a partnership agreement with Uber Technologies, Inc (“Uber”) to integrate and offer a suite of best-in-class products and services. With this partnership, when fully deployed and integrated, both existing and new clients across the United States, and expected later …

Uber Says It’s on Track to Maybe Make a Fake Profit

Uber says it’s set to break even or make an operating profit for the first time ever ahead of schedule—you know, on paper, so long as you squint your eyes at the books in the Uber-approved way. According to Reuters, Uber said on Tuesday that it expects to break even this quarter, according to its definition of “adjusted …

Uber’s profitability rides on Eats

WASHINGTON, Sept 21 (Reuters Breakingviews) – Uber Technologies’ (UBER.N) sooner-than-expected profitability depends on what’s under the hood read more . The company said on Tuesday its adjusted EBITDA could be as much as $25 million in the third quarter, sending the company’s shares up more than 6% in morning trading. But the details are important, and they are not disclosed. The …

Uber Announces Results for Second Quarter 2021

Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter ended June 30, 2021. Financial Highlights for Second Quarter 2021 Gross Bookings grew 114% year-over-year (“YoY”) to $21.9 billion, or 104% on a constant currency basis, with Mobility Gross Bookings of $8.6 billion (+184% YoY) and Delivery Gross Bookings of $12.9 billion (+85% …

Uber beats estimates, but core business loses $509 million in Q2

Uber beat estimates on the top and bottom line and turned an unexpected one-time profit during the second quarter. Shares dipped more than 4% in after-hours trading. Here’s how Uber did, compared with expectations of analysts surveyed by Refinitiv: Earnings per share: 58 cents vs. an expected loss of 51 cents Revenue: $3.93 billion vs. $3.75 billion expected …

Uber to buy a company that makes software to manage shipping for $2.25 billion

Uber Freight, the rideshare company’s trucking division, said Thursday it’s acquiring Transplace in a deal that values the transportation logistics company at $2.25 billion. Uber Freight will acquire Transplace from TPG Capital, the private equity platform of alternative asset firm TPG. The deal consists of up to $750 million in common stock of Uber and …

Costco pilots same-day delivery with Uber

Dive Brief: Costco is piloting same-day grocery delivery through Uber from 25 Texas stores in Dallas, Austin and Houston, according to an announcement from the delivery firm. The deal marks Uber’s first test run with a U.S. food wholesaler. In the coming weeks, seven more Costco stores will begin offering delivery through the Uber and Uber Eats …

Driver-Owned Uber Alternative Looks to Crowdfund $1 Million

A worker-owned cooperative that competes with Uber in New York is hoping to turn grassroots buzz into business growth by raising more than $1 million from investors, drivers and potential passengers. While most startups trade equity for venture capital funding, The Drivers Cooperative is issuing debt to lenders who would get a limited share of future revenue while keeping company ownership in the hands …

Uber is buying the rest of grocery delivery start-up Cornershop

Uber is acquiring the remaining 47% interest in grocery delivery start-up Cornershop in an all-stock transaction, the company said Monday. The acquisition shows how Uber is investing more outside its core ride-hailing business, which has so far failed to prove profitable. The deal comes nearly two years after Uber bought a majority stake in Cornershop for an undisclosed sum. Cornershop …

Uber Narrows Loss on 28% Delivery Revenue Surge

After losing $968 million last quarter, Uber delivered improved first quarter earnings with a net loss of $108 million that was, as CNBC put it, a “tremendous improvement” from the fourth quarter of 2020 with delivery revenue up 28 percent over the Q4 2020 and 230 percent year over year. As the world begins moving …