Congrats to Uber for making a profit! $2.5 billion!
https://www.recode.net/2018/5/23/17380952/uber-2018-financials-yandex-grab-softbank
Recode
The photo is of Bezos?
He looks similar to Dara in some ways in that outfit anyway! :)
Literally the same person.
Revenue up 70%, losses down 55%. Winning.
Has this impacted the 409A price ? I am going to join in a couple of weeks. Is that going to change the number of RSU’s ?
I'm joining in 2 weeks and have the same concern
Ask recruiter
The profit number is accounting BS due to Yandex/Grab. Look at EBIT, we are gaining more revenue at a lower cost.. scale is working. Those that want in should get in while they can at current valuations. It’s gonna get pretty nice as Dara keeps fixing strategy + execution.
Exactly. “Profit”.
I will +1 this. We have a lot of low hanging fruit due to our scale and engineering resources. A lot of our focus is on cutting (unnecessary) cost and what you are seeing in Q1 with shrinking losses is only the tip of the iceberg on things to come. Now is a great time to join. IPO due late 2019, we have a clear strategy to get there and it’s working well so far.
Dara cleaning house! I also am a big fan of mobility strategy.
Will believe he is cleaning the house when Eric get fired. He is responsible for the mess at ATG and should be gone sooner rather than later.
^^ this. TK decided Eric wasn't capable of running ATG twice. It's clear he is out of his depth. If Dara doesn't fire Eric, then Dara isn't the right CEO.
Next stop, flying cars?
Aren't they already working on that
"But there’s a big caveat with that figure. Uber gained $2.9 billion after it merged its businesses in Russia and Southeast Asia with local competitors. Without that, the company would have posted a loss, but one that would be significantly lower than previous quarters. Excluding gains from Uber’s deals with Yandex in Russia and Grab in Southeast Asia, the company lost about $480 million, down from $1.1 billion in losses in the previous quarter and $800 million in the first quarter of 2017."
Exactly, so the real news is that in a year the quarterly losses are down significantly. Care to guess the number for Q1 2019?
I would say $200B
Dara is leading on the right direction.
Great results and bright future. However A big portion of the lowered expenses were due to legal fees from settling with google and some other lawsuits so don’t expect the same decrease in loss coming from Opex. We’ll have to increase efficiency. Back to work everyone!
My man
Seriously what does TC mean? Total compensation? Doesn't make sense