Uber Reduced Its Deficit But Still Lost $1.1B In Q4 2017

Alphabet and Uber

The company earned almost $11.1 billion in gross revenue in Q4 2017, up by $1.4 billion from Q3 2017 and almost double the figure from Q4 2016.

Uber concluded its full year with cash of approximately $6 billion, which is 13% less than it had ending the previous year. Uber had initially offered to settle the case for $490 million just before the start of the trial Monday, but that agreement didn't provide Waymo with enough assurances that its technology wouldn't be improperly used, according to two people familiar with the thinking of both parties in the lawsuit.

Khosrowshahi's comments come just days after Uber settled a lawsuit in which Waymo, the self-driving vehicle company owned by Google parent Alphabet, had accused it of stealing trade secrets.

Ohio State to pay coordinators more than $1M each
The Boilermakers will be looking to break a three-game losing streak after taking an upset loss to Wisconsin Thursday night. Thompson combined to score just two points on 1-for-8 shooting, and as a team Purdue shot just 39.6 percent from the field.

This is Khosrowshahi's first full quarter since becoming Uber's head.

On top of that, the ride-hailing service lost a total of $4.5 billion for 2017.

The 61% increase in losses for the fast-expanding and controversial company came at the same time as revenues surged by 85% to $37bn. Last month, SoftBank Group led a $9.3 billion investment deal to make itself largest shareholder in the San Francisco-based company.

HomePod comes third in blind audio test, leaves marks on wooden furniture
The smart speaker system was not leaving rings on every wood surface, only surfaces that are treated with oil. It was also revealed this week that Sonos speakers were also leaving marks on some wooden surfaces.

Waymo filed its lawsuit almost a year ago, adding to Uber's woes with allegations of a bold hi-tech heist orchestrated by its former CEO, Travis Kalanick, and a former Google engineer.

Chief executive Travis Kalanick was ousted in June and replaced by Mr Khosrowshahi in August. The company said the market share has now stabilized. It was a particularly tough year for the ridesharing giant, which saw scandal after scandal rock the company and erode consumer confidence. Over the entire 2017, Uber lost $4.5 billion, whereas it was "only" about $2.8 billion in the red a year earlier, though 2016 isn't considered an optimal reference point for evaluating its long-term performance because the majority of its losses incurred over that year was amortized by the sale of its China business to local rival Didi Chuxing. Khosrowshahi detailed them on a conference call with investors Tuesday, and the company disclosed some data to a website called The Information.

Light snow may affect Thursday morning commutes in high elevations
Monday , Presidents Day, there is a 60 percent chance of showers, mainly after noon, with a high of 65, the weather service said. Friday night, look for a low of 27 with mostly cloudy skies and a southeast wind of 5 to 7 miles per hour .

Related news:

Hot News

isis-killer-beheading-video-story-top Barry Bennell's victims convinced clubs new about the abuse
Feb 17, 2018 - 01:44
Chris Unsworth, who was abused by Bennell when he was a scout at Manchester City , reached out to other child sex abuse victims. He said: "If we use our phones we can't take pictures of the children and put it on the Stoke City Twitter or Facebook page".

isis-killer-beheading-video-story-top Growth Is the Missing Ingredient for Kraft Heinz
Feb 17, 2018 - 01:43
Overall revenue in the quarter ticked up 0.3% to $6.88 billion, but adjusting for currency exchange, organic sales were down 0.6%. Segment Wealth Management LLC's holdings in The Kraft Heinz were worth $254,000 at the end of the most recent reporting period.

isis-killer-beheading-video-story-top FCC inspector general investigating chairman over Sinclair
Feb 17, 2018 - 01:39
Both Sinclair and the FCC have declined to comment on the current investigation but called the original allegations "baseless". Frank Pallone, wants to know if Pai's meetings with Sinclair executives in the weeks before the rule change were proper.

isis-killer-beheading-video-story-top Researchers Discover A Single Letter Can Crash The iPhone
Feb 17, 2018 - 01:32
While an iOS 11 .3 update has already been in the works, this fix for the iMessage app will come before the rollout of iOS 11 .3. Messages written with the Telugu symbol can effectively disable any chat or email app that tries to fetch them on startup.

isis-killer-beheading-video-story-top Amy Schumer and Chef Chris Fischer Tie The Knot
Feb 17, 2018 - 01:23
However, it's unlikely that Jennifer will copy the Inside Amy Schumer creator's aesthetic as the beach really isn't her thing. Schumer was first linked to Fischer in November following her split from Ben Hanisch in May.

isis-killer-beheading-video-story-top State's first pediatric flu death reported in Essex County
Feb 17, 2018 - 01:09
The illness tracker gave Warrenton a 4.5 out of 10 ranking in level of severity for influenza, and Manassas a 5. Most people with the flu have mild illness and do not need medical care or antiviral drugs.

isis-killer-beheading-video-story-top First COBRA KAI Teaser Hints At a KARATE KID Rematch
Feb 16, 2018 - 07:06
And as LaRusso puts it in this teaser, " Johnny , you and I, this, we aren't done". 1984's The Karate Kid was directed by John G. Writing the series are Josh Heald ( Hot Tub Time Machine ), Jon Hurwitz and Hayden Schlossberg ( Harold & Kumar ).

isis-killer-beheading-video-story-top Russian, Saudi energy ministers discuss oil cooperation
Feb 16, 2018 - 07:05
A weaker dollar makes oil and other dollar-denominated commodities cheaper for holders of other currencies. Oil also gained as the USA dollar weakened, falling to a 15-month low against the yen.

isis-killer-beheading-video-story-top Mehbooba Mufti calls for dialogue with Pakistan
Feb 16, 2018 - 07:04
A CRPF official was killed and another injured in the Srinagar attack by members of Lashkar-e-Taiba (LeT), authorities said. She asserted that evidences related to Jaish's involvement in the terror attack would be shared with Pakistan.

isis-killer-beheading-video-story-top Two Hafiz Saeed-linked charities banned from operating in Pakistan: Sana
Feb 16, 2018 - 07:04
Thus, this new anti-terror ordinance seems to be an effort to "clear its name" and present a clean slate before the Financial Action Task Force meeting.

isis-killer-beheading-video-story-top Richmond chef, bakers, and beer pioneer named James Beard semi-finalists
Feb 16, 2018 - 07:03
ChoLon and Williams & Graham have also made the list for Best New Restaurant and Outstanding Beverage Program, respectively. The foundation will narrow the nominees for its restaurant and chef awards to a smaller group of finalists on March 14.

isis-killer-beheading-video-story-top Blood test detects concussions without X-rays
Feb 16, 2018 - 07:03
When the test results come out in four hours, they can then help doctors decide if a CT scan is needed. Abbott has licensed both protein biomarkers from Banyan and is developing its own blood tests.

isis-killer-beheading-video-story-top Qualcomm, Broadcom plan to meet on February 14
Feb 15, 2018 - 03:11
Qualcomm and Broadcom have a Valentine's Day date to discuss what could be the largest tech acquisition in history. This offer, too, was unanimously rejected by Qualcomm's board of directors.

isis-killer-beheading-video-story-top Apple Inc. Considering Making Big Changes To iOS Release Cycle
Feb 15, 2018 - 02:56
Rather than going for rushing to get the latest features out there, Apple is now expected to pace itself and its engineers. That means a new model of the tablet should come with the Face ID camera, which is what enables Apple's Animoji feature .

isis-killer-beheading-video-story-top Klopp: Liverpool Must Get Good Result At FC Porto
Feb 15, 2018 - 02:54
From game to game, it'll always change, but they're the ones getting the chances, and luckily they're taking them. The Holland global told Liverpoolfc.com: "The game will not be decided in one leg, it's over two legs".