Uber reports $708M loss as revenues growJune 1, 2017 - 11:33 AMT PanARMENIAN.Net - Ride-hailing giant Uber has reported another multibillion dollar loss even as its revenues grow, The Associated Press reports. The San Francisco-based company said Thursday, May 31 that its losses in the first quarter narrowed to $708 million from $991 million in the previous three-month period. Uber told The Associated Press that it had $3.4 billion in revenue for the period, 18 percent higher than the final three months of last year. The company is not publicly listed but has been mulling an IPO. It said in a statement "the narrowing of our losses in the first quarter puts us on a good trajectory towards profitability." Uber also said it's launching a search for a chief financial officer as its head of finance, Gautam Gupta, departs, becoming the latest high profile executive to leave amid a string of troubles facing the company. Gupta worked for the company for four years but was never promoted to the CFO position. This year the company has also lost its head of communications, president and other senior executives as it faces allegations of sexism and sexual harassment in the workplace. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |