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Uber’s cash-burn keeps gathering speed – The Australian Financial Review

Uber’s cash-burn keeps gathering speed – The Australian Financial Review

Smaller US peer Lyft offered a glimmer of hope when it published its own second-quarter results last week and pointed to easing price pressures. Perhaps, investors wondered, ride-sharing was the sort of business that could become profitable even without driverless cars?Uber’s results pour cold water on that idea. Even if price wars are ending, Uber…

Smaller US sight Lyft offered a glimmer of hope when it published its receive 2d-quarter outcomes remaining week and pointed to easing tag pressures. Maybe, customers puzzled, race-sharing was once the form of alternate that will perchance perchance make money even with out driverless autos?

Uber’s outcomes pour cool water on that thought. Even supposing tag wars are ending, Uber can not afford to bewitch its receive costs by any major amount.

The firm claims autos, now not varied race-sharing firms, are its trusty opponents. But so are public transport, taxis and walking around. Losses will mount for so long as Uber fails to recognise the breadth of the opponents.

Monetary Times

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