Teen kills her Uber driver. Uber CEO Travis shouts at an Uber driver. Uber’s controversial Greyball technology deceives authorities. Uber looks on at a senior execs exodus! So much negative news ruined the company’s image. However, amidst all these chaotic news the ride-hailing company earned higher revenue than the last quarter. In the first 3 months of 2017, Uber earned a revenue of $3.4 billion.
Uber earned a revenue of $3.4 billion
Uber was struggling to cover its financial distress for quite a long time. The company’s better performance in this latest quarter shows hope for its investors. Revenue of the company for this quarter increased as much as 18 percent. Nevertheless, the ride-sharing giant couldn’t make any profit. Moreover, Uber losses decreased to $704 million from $991 million.
Uber’s Head of Finance Leaves
Regardless of narrowing the loss, the company is still worried about its finance. Finance head of Uber joined other executives leaving the company. Gautam Gupta, Uber’s head of finance goes to join an unnamed Silicon Valley startup. He was handling Uber’s finance for 4 years.
Uber looks for CFO
As Mr. Gupta leaves the company, it started looking for a CFO. However, experts say that it’ll be challenging for Uber Technologies Inc. to find the CFO it needs. The organization search for a highly experienced chief financial officer who will also be able to handle IPO matters as the company plans to go public.