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Is Uber finally turning into a real business?
One year after Uber founder and super-bro Travis Kalanick was ousted in favour of former Expedia head Dara Khosrowshahi, the company seems to have turned a corner. On Wednesday Uber announced year-on-year revenue growth of 63% and a narrower loss – “just” $891 million, down from $1.1 billion a year ago.
By Felicity Duncan
One year after Uber founder and super-bro Travis Kalanick was ousted in favour of former Expedia head Dara Khosrowshahi, the company seems to have turned a corner. On Wednesday Uber announced year-on-year revenue growth of 63% and, more importantly, a narrower loss – "just" $891 million, down from $1.1 billion a year ago (although higher than the first quarter's $550 million loss).
The company is moving more aggressively into food delivery and scooters (the kind slick city folk use to travel the last mile to the office in global cities), and has backed out of highly competitive markets like Russia and China to refocus on more welcoming places like India.
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