Amid Series of Scandals, Uber Assures Investors of Consistent Financial Growth

Published By : 12 Jul 2017 | Published By : QYRESEARCH

Although Uber technologies Inc. remains one of the most successful app based taxi and carpooling company, recent series of scandals has significantly demeaned their prestige. But in order to reassure the investors of a consistent financial growth, Uber today announced an increase of over 10 percent in gross bookings in the last quarter. Uber expects narrower losses in the near future, despite facing its biggest legal burdens.

Via a conference call meeting with the prominent investors, Uber revealed that the losses are shrinking as the bookings continue to increase.  Full financial results were not revealed by Uber during the 15-minute call with the investors, delaying it for the next few weeks. It was first-of-its-kind presentation by the company that was help privately for the shareholder since the forced resignation of CEO Travis Kalanick last month.

The Uber spokesman has reiterated that the company remains healthy and business is growing, which allows them the flexibility to make the required management changes and increase accountability. In the current scenario, Uber is on lookout for a Chief Executive Officer, a chief financial officer, and a general counsel.

Formal Settlement with Waymo Expected at the Earliest

Moreover, the company’s attorney is confident of reaching a settlement on the lawsuit from Alphabet’s Waymo over self-driving cars well before the court date in October 2017. The spokesman also believes that Uber has strong evidence to convince the jury about company’s misappropriation of Waymo’s trade secrets, and is anxiously awaiting the trail to get it over with.

Although Waymo has agreed to drop all of its patent claims over Uber, except one, a public fight among them may result in revelation of private details which neither of them would want. The court has already mandated Waymo to put forward the terms of its partnership deal with Lyft Inc., a development neither company were comfortable with.

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