Uber continued to lose money as it builds up its food delivery business and develops technology for driverless cars, but revenue for its rides business nearly tripled as the company picked up more passengers around the world.
News headlines today: Feb. 6, 2020NEW YORK -- Uber is still losing money as it expands its food delivery business and develops technology for driverless cars.
Uber brought in $4.1 billion in revenue, up 37% from a year ago. Its revenue grew around the world, although the biggest gain was in the U.S. and Canada, where it pulled in 41% more than last year. In January, Uber sold its Eats business in India to Zomato, a popular food app, a move that its executives hope will stem some of the losses.-like impact on profitability,” said Dan Ives, managing director of equity research at Wedbush Securities.
And in a major blow, Uber lost its license to operate in London in November over concerns about impostor drivers and the way the company handles safety.
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