Uber Chief Executive Dara Khosrowshahi wants to show that the ride-sharing firm can generate lots of cash, soon. What’s less clear is how the new cost cuts will affect the company’s revenue growth prospects, writes rob_cyran:
with cash provided internally. It was free cash flow positive in its first quarter as a public company in 1997. Conversely Uber, founded in 2009, isn’t there yet. It is getting better, but cash from operations has yet to consistently cover capital expenditures.Wall Street already expects great things of Uber, with analysts saying revenue will hit about $42 billion in 2024, or more than twice as much as last year, according to Refinitiv.
- On May 4, Uber said first quarter revenue more than doubled compared to the same period last year to $6.9 billion. The company lost $5.9 billion, thanks in large part to a $5.6 billion pre-tax loss on revalued equity investments.Editing by Lauren Silva Laughlin and Pranav KiranOpinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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