$ 8.5 billion in Uber’s total losses in 2019


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Uber Participatory Transport incurred a total loss of $ 8.5 billion during 2019, the company announced.

This came in the context of the company’s announcement of its financial results for the last quarter of 2019, last Thursday, with a net loss of $ 1.1 billion, According to the site The Verg.
The company’s loss in the third quarter was almost equal to its recent loss of $ 1.2 billion, bringing the total loss for the past year to $ 8.5 billion when adding the results of the second fiscal quarter loss of $ 5.2 billion.

The company explained that $ 243 million of its net loss in its last quarter was based on equity-based compensation expenses, while its revenue during the last three months of the fiscal year was $ 4.1 billion.

Whereas the total of what the company gained from the customers before paying any fees incurred, including the percentage of drivers on flights, is $ 18.1 billion, with an annual growth of 28%.

It is reported that Hyundai and Uber announced earlier their partnership to develop the first “PAV” taxi at the Consumer Electronics Show in Las Vegas, in the United States of America.

Hyundai explained the specifications of the exceptional vehicle, such as the ability to take off and vertical landing, with an electric drive system with eight engines, enabling it to fly at a speed of 290 km / h, and an altitude between 300 and 600 meters, for a distance of up to 96 km.

Hyundai said that the taxi is equipped with four passenger seats, without a seat for the driver, as the plane is equipped with the necessary navigation devices to make it autonomous, according to Arab Auto.


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