Uber CEO has no regrets about poor IPO
"I think we've got to do a better job in terms of telling our story to the markets. I think the company is executing very very well, and somehow its not getting through the noise," Khosrowshahi says.
Shares of Uber tanked nearly 10% Friday after the ride-hailing giant reported disappointing second-quarter earnings, including a massive $5.2 billion loss in the three-month period.Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks on a webcast during the company's initial public offering on the floor of the New York Stock Exchange in New York, U.S., on Friday, May 10, 2019.
"I think we've got to do a better job in terms of telling our story to the markets. I think the company is executing very very well, and somehow it's not getting through the noise," Khosrowshahi told CNBC's David Faber and Jim Cramer onAsked if he has any regrets about the Uber's initial public offering, the CEO said "it was a great day as far as bringing in, getting the company public, getting us funded to that path to profitability as well.
"At some points you just put your head down and you execute and the market short-term, while you can't control the short-term, long-term the market will take care of itself," he added., including a massive $5.2 billion loss in the three-month period. The stock has been trading below its IPO price of $45 since early July.as he tries to steer it toward profitability. He added that Uber is targeting 30% revenue growth in the back-half of the year.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Uber CEO: Massive losses from IPO were a once-in-a-lifetime hitUber fell short of analysts' expectations for both the top and bottom lines in its second-quarter earnings report.
Baca lebih lajut »
IPO Expenses Drive Up Uber Losses To $5.2 Billion As Growth SlowsUber's losses ballooned to $5.24 billion in the 2nd quarter due to $3.9 billion in stock costs associated with its IPO by bizcarson
Baca lebih lajut »
Uber shares continue slide in pre-market trading as CEO says profits will come 'eventually'Uber shares were down as much as 8% in pre-market trading on Friday after the company missed expectations in its second quarter results.
Baca lebih lajut »
No Lyft for Uber shares after results fall shortShares of Uber Inc fell 10% in early trading on Friday after the ride-hailing se...
Baca lebih lajut »
Uber losses; Broadcom strikes a deal; Huawei's OSToday's top business headlines: - White House to delay decision on Huawei licenses - Uber reports its largest quarterly loss ever - Impossible Burger expands
Baca lebih lajut »