Revenues double as demand for rides increases, but ride-hailing company has to spend more
Heavy spending to encourage drivers back to the road has pushed ride-hailing firm Uber into a larger-than-expected loss, despite the company than doubling its revenues as demand for its services increased.
Uber’s “take rate”, or its share of the fare, dropped in the last quarter as it faced elevated costs of getting willing drivers behind the wheel.
Continue reading...https://ift.tt/eA8V8J
Originally posted in the guardian.
