# Uber lost $6.8 billion in 2020



## goneubering (Aug 17, 2017)

https://www.cnn.com/2021/02/10/tech/uber-earnings/index.html
(CNN Business)Uber lost a staggering $6.8 billion last year -- and that's actually good news.

The full-year loss, which Uber reported along with its fourth quarter results on Wednesday, represented a significant drop from the $8.5 billion it lost in 2019.

During the year, Uber sold off costly ventures, cut staff and focused on what its CEO previously called "profitable growth."

The company reported $968 million in losses for the last three months of 2020, including $236 million in stock-based compensation expenses, down from nearly $1.1 billion in the year prior. CFO Nelson Chai said in a statement that Uber remains "well on track to achieving our profitability goals in 2021."

Uber (UBER) has said it aims to achieve profitability on an adjusted basis before the end of this year. Like Lyft, which reported its fourth quarter results on Tuesday, Uber saw some improvement from the third quarter of last year but still experienced revenue declines due to the ongoing pandemic's impact on its Rides business. Uber posted revenue of $3.2 billion for the fourth quarter, down 16% from the same period a year earlier.


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## observer (Dec 11, 2014)

Wait till people stop ordering Ubereats.


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## MikhailCA (Dec 8, 2019)

Wait till gas prices will be $5 and all free cheese ran out.


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## Kodyhead (May 26, 2015)

But how many uber pro points did they lose?


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## jocker12 (May 11, 2017)

goneubering said:


> https://www.cnn.com/2021/02/10/tech/uber-earnings/index.html
> (CNN Business)Uber lost a staggering $6.8 billion last year -- and that's actually good news.
> 
> The full-year loss, which Uber reported along with its fourth quarter results on Wednesday, represented a significant drop from the $8.5 billion it lost in 2019.
> ...


Daras last bubbles.... Buy more competitors and pretend you're leading...


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## Disgusted Driver (Jan 9, 2015)

I like how they call hopefully losing less money next year "profitability goals". Um no, they are loss reduction goals.


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## Bevital (Mar 9, 2017)

goneubering said:


> https://www.cnn.com/2021/02/10/tech/uber-earnings/index.html
> (CNN Business)Uber lost a staggering $6.8 billion last year -- and that's actually good news.
> 
> The full-year loss, which Uber reported along with its fourth quarter results on Wednesday, represented a significant drop from the $8.5 billion it lost in 2019.
> ...


It took Amazon 14 years before it turned a profit . . . look at them now.


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## Daisey77 (Jan 13, 2016)

Haven't we been saying all along? with the way their business model is set up, the more business they do, the more money they lose, literally. This just shows ONCE AGAIN we are right. The ride volume was down last year because of the pandemic. rides ⬇ loss ⬇ 🤷‍♀️


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## woodurather (Feb 11, 2021)

dara was on cnbc lying again today it was hilarious
i was just praying a meteor would strike him
have no clue how any takes that parasite serious but hey stocks at an all time high lol
and hes "profitable" in a dozen markets, delivery is huge and when mobility comes back itll be huge and hell accept bitcoin because people who cant afford cars and work at walmart can afford 50K a coin crypto currensy,

so smart they buy a ride today with bitcoin, tomorrow they coulda bought the drivers car doh



Bevital said:


> It took Amazon 14 years before it turned a profit . . . look at them now.


amzon sells products for least a few pennies profit ACTUAL products
uber lyft sell a service 41% UNDER COSTS
amazon pays labor legal wages
uber lyft pay labor illegal wages and still cant profit

amazon has actuall warehouses, property, planes, assets....
doesnt run its business via only google maps

uber lyft has an app that most anyone can code minus the fraud or clone for less than 1000$
very pricey office buildings, a staircase worth 15M lots of expensive office chairs and is 100% dependent on google maps

if you go to work at amazon for $15 an hour when you get your paycheck it doesnt reflect 1970s wages of $3 an hour lol

amazon doesnt cut labors pay 20% EVERY year and somehow call it a raise

amazon doesnt pay minimum wage during busy hours, then when its slow pay less

amazon has millions of transactions per minute ALL least profit a penny up to dollars

uber drivers need to do 12.5 MILLION rides at $4 PROFIT each just to pay dara ks 50M salary lmao
btw they dont profit on any rides but when they do itll have to be $4 a ride profit

pre covid it was 4+ Million rides daily
after its 1M

*12 days a year almost 1 half of a month JUST to pay the ceo*

now memba berry the cfo and a few others make 50M a year too, then theres 15,000 employees getting no show checks to support
so its like 4 months of the year just to pay the executives *IF* they profited $4 every ride and 100% of that profit went to the ceo lololololol

i look at amazon an see an evil pos that i use nad make sure to cost them money so they dont profit off of me,......every now and then saying it was damaged, broke, never arrived so they dont profit off me, new email everytime since 2000 for the FREE prime and less stalking

its a necessary evil i use to my benefit

uber is nothing but a ponzi scam brogrammed human trafficking and organized crime in app form

amazon is just a slimey predatory business that used scale like walmart to shut small business out a lessor of two evils but least they pay minimum wage I mean thats all their obligated to do it is what it is


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## The Gift of Fish (Mar 17, 2017)

Bevital said:


> It took Amazon 14 years before it turned a profit . . . look at them now.


Or, Uber could be like the countless companies that never make a profit and go bust.

It could go either way.


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## woodurather (Feb 11, 2021)

The Gift of Fish said:


> Or, Uber could be like the countless companies that never make a profit and go bust.
> 
> It could go either way.


itll go the way of enron + madoff
in NO universe should any of these apps be allowed to operate they are 100% illegal and fraud at this point

my apps been on 8 hours a day since 2015 i see the requests/demand/trends i see their business is pure garbage now lol
neither drivers or riders are loyal and eventually you do run outta marks to scam maybe not in cali or ny or the big markets but 99% of markets cant keep up with 96% churn the words out only the dumb desperate need apply and they dont last long cuz doh there goes the radiator thats 300 minimum fares after costs lmao


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## 1.5xorbust (Nov 22, 2017)

Bevital said:


> It took Amazon 14 years before it turned a profit . . . look at them now.


Uber ain't no Amazon. Not now and never will be.


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## The Gift of Fish (Mar 17, 2017)

1.5xorbust said:


> Uber ain't no Amazon. Not now and never will be.


Yes. Saying that they are similar and that Uber will become profitable like Amazon, based _only_ on the fact that they both made no money for years is silly.

Donald Trump is orange and he became president. I have an orange in my kitchen that is also orange, therefore it will become president. Doesn't really work.


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## W00dbutcher (Jan 14, 2019)

The Gift of Fish said:


> Yes. Saying that they are similar and that Uber will become profitable like Amazon, based _only_ on the fact that they both made no money for years is silly.
> 
> Donald Trump is orange and he became president. I have an orange in my kitchen that is also orange, therefore it will become president. Doesn't really work.


Well....... It could. Lightning has been know to strike twice in 1 spot.....


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## observer (Dec 11, 2014)

Wait until the EU and states clamp down on offshore tax havens. 

Uber will have to pay profits in countries where it has profits.

No more shell game with money.

It's coming.


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## jocker12 (May 11, 2017)

The Gift of Fish said:


> Or, Uber could be like the countless companies that never make a profit and go bust.
> 
> It could go either way.


We can do a little bit of math and try to understand if there is another company in the history of human kind that lost more money than Uber did, and if there are any signs rationally showing that Uber disaster could be turned around.

So, for the last 2 years (2019 and 2020), 730 days, Uber lost (according to the CNN report posted above) $15.3 billion ($8.5 billion in 2019 and $6.8 billion in 2020)

Looking at those numbers, one could very well argue that (considering they've unloaded their "self-driving" and "flying" cars divisions towards the end of the year - and that had little impact on the final savings), the less operations - due to Covid pandemic - they've had, the less money they've lost.

By the way, $15,3 billion in (only the last) 730 days equals (in average) ... drum roll ... $20.958.904 (and some change) LOSSES EVERY SINGLE day.

Could any mentally sane individual comprehend how the most important disruptor of the transportation sector during the last decade, could effectively burn close to $21 million every single day in the last 2 years, AFTER its IPO, and AFTER it promised its public investors to make its FIRST dollar profit in its existence?

Those numbers are simply mind-blowing, and no matter what Uber shills or Uber executives (which are probably the same people at this point) say, even if I'll be Ubers biggest supporter I won't be able to stay positive and continue to try to distort the harsh reality into some optimistic potential future.


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## The Gift of Fish (Mar 17, 2017)

jocker12 said:


> We can do a little bit of math and try to understand if there is another company in the history of human kind that lost more money than Uber did, and if there are any signs rationally showing that Uber disaster could be turned around.
> 
> So, for the last 2 years (2019 and 2020), 730 days, Uber lost (according to the CNN report posted above) $15.3 billion ($8.5 billion in 2019 and $6.8 billion in 2020)
> 
> ...


Possibility and probability are often two very different things.


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## woodurather (Feb 11, 2021)

1M or 1 hour of their burn could launch a realistic competitor keep ot running for a YEARthat actually profited lol
think $2 profit on 1000 rides a day or 20 rides per day per state
would be 500,000+ PROFIT with 1-10 employees(dispatching)and 20 drivers per state vs their 15K employees and 50M salaries
and they "worth" or market cap at 100 billion
ponzi ponzi ponzi
simply ludicrous
there is a huge advantage of being a small size, thing is i know lots of millionaires do pretty well myself but never met 1 that just has one to burn and throw away to risk especially to be a cab compnay haha

i thought it was predatory and illegal to sell things at a loss no one can honestly compete with illegal wages and predatory pricing

watch old yogi bear cartoons from the 60s scooter rental isnt new whats new is you could start a scooter, bike share, courier, delivery cab business with $1000-50000 and a a few hunder dollars in permits and registrations

now you need 100 million to launch a lemonade stand, it needs an app, 10,000 engineers, 1000 executives, 4000 employees, a worldwide infrastructure, hundred million dollar office building, billions to bribe or donate to operate.....

should of failed a long time ago but these parasites still chugging along


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## goneubering (Aug 17, 2017)

jocker12 said:


> We can do a little bit of math and try to understand if there is another company in the history of human kind that lost more money than Uber did, and if there are any signs rationally showing that Uber disaster could be turned around.
> 
> So, for the last 2 years (2019 and 2020), 730 days, Uber lost (according to the CNN report posted above) $15.3 billion ($8.5 billion in 2019 and $6.8 billion in 2020)
> 
> ...


Uber's stock closed at $63.18 yesterday which is absolutely insane!! In the past I gave it a value of $5 per share but I'm starting to wonder if I've been too optimistic.

The whole thing with Uber makes no sense at all so I have to wonder if some of the bitcoin insanity could be driving the price up.


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## 25rides7daysaweek (Nov 20, 2017)

Bevital said:


> It took Amazon 14 years before it turned a profit . . . look at them now.


If they cant afford to pay us how do you think they will be able to buy and maintain the driverless cars that will supposedly replace us?


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## goneubering (Aug 17, 2017)

25rides7daysaweek said:


> If they cant afford to pay us how do you think they will be able to buy and maintain the driverless cars that will supposedly replace us?


Exactly. It's just fantasy.


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## woodurather (Feb 11, 2021)

goneubering said:


> Uber's stock closed at $63.18 yesterday which is absolutely insane!! In the past I gave it a value of $5 per share but I'm starting to wonder if I've been too optimistic.
> 
> The whole thing with Uber makes no sense at all so I have to wonder if some of the bitcoin insanity could be driving the price up.


makes complete sense when you look at it as the ponzi scam / human trafficking / wage theft / organized crime it is

no body at the top "losing" money travis cashed out 3+ billion just in dec 2019, on top of 7 years of 50 million dollar salaries, he bought a 100 million dolllar mansion, and a 34 million dollar condo, the same year the other cofounder bought 100 million dollar mansion and dara k got a 200 million signing bonus with a 50 million salary, another exec gets a 50 million dollar salary and i guarauntee those "15,000 employees left after firing 15,000 employees after covid is like 1000 people and the rest just empty buildings with phones off the hook mob style no shows baby

pre pandemic 4 million+ usa rides a minimum $4 per ide cash flow is 16+ million dollars per day plus 10 million rides worldwide they prob bring in a buck on is 20 million a day or 600 MILLION per month cash flow, enough to bribe everyone not to care

post pandemic its under a million daily rides now 4 million a day cash flow is still insane but its no where near the 16+ at the peak, still enough to bribe everyone but not enough to be worth 100 Billion haha

lmao
thats 100 billion rides away at 1 million a day
so 100,000 days or just *273 years *to break even with their valuation *WHEN* they start making a dollar profit per ride haha

they really think people cant do math hahaha
worlds biggest ponzi scam nothing more nothing less

its not supposed to make a profit only people lose are drivers and communities riders and government making bank off this scam and enjoying modern slave labor

if you or i claim a loss and go buy a 100 million dollar mansion by noon tomorrow the gubmint owns that mansion n you or i is in a cage
pure comedy and evil rolled up into 1

takes 12.5 million rides per year at $4 profit just to pay daras 50 million dollar salary and they lose money every ride still lol

over a billion rides 250+ million hours of drivers labor went to 3 people at this "company" 2 cofounders current ceo

how many did the great pyramids take?

pre pandemic get cancelled on 5 times still get a ride in 5 minutes or less damm near 24/7
post man its 10 more like 15-20+ minutes of cancelling
sure riders will flock back to it once the free ride credits and incentives start pouring out but i cant imagine anyone who uses this service that actually enjoys the experience, they use it cuz its subsidized and now a car looking like a good decision to the snowflakes


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## jocker12 (May 11, 2017)

goneubering said:


> Uber's stock closed at $63.18 yesterday which is absolutely insane!! In the past I gave it a value of $5 per share but I'm starting to wonder if I've been too optimistic.
> 
> The whole thing with Uber makes no sense at all so I have to wonder if some of the bitcoin insanity could be driving the price up.


Softbank is pushing to get out.


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## IRME4EVER (Feb 17, 2020)

The Gift of Fish said:


> Or, Uber could be like the countless companies that never make a profit and go bust.
> 
> It could go either way.


 If Uber would pay their drivers more, beings it's our cars, our rideshare insurance, our maintenance, our cell phones, and the plans we pay. SCREW UBER!!! I haven't driven for them since May 2020 and still collecting PUA. Cheaper to stay home!!


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## Stevie The magic Unicorn (Apr 3, 2018)

It was only 6.8 billion?

I'm impressed it wasn't 10


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## goneubering (Aug 17, 2017)

jocker12 said:


> Softbank is pushing to get out.


They sold about $2 Billion worth of Uber stock but apparently still own around $10 Billion at current rates.


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## Daisey77 (Jan 13, 2016)

Stevie The magic Unicorn said:


> It was only 6.8 billion?
> 
> I'm impressed it wasn't 10


 if covid-19 hadn't hit


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## 58756 (May 30, 2016)

goneubering said:


> https://www.cnn.com/2021/02/10/tech/uber-earnings/index.html
> (CNN Business)Uber lost a staggering $6.8 billion last year -- and that's actually good news.
> 
> The full-year loss, which Uber reported along with its fourth quarter results on Wednesday, represented a significant drop from the $8.5 billion it lost in 2019.
> ...


But the Stock keeps soaring


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## fightlike2hockeysticks (Feb 13, 2021)

Ozzyoz said:


> But the Stock keeps soaring


[HEADING=2]The Market Can Remain Irrational Longer Than You Can Remain Solvent[/HEADING]

the fed was pumping half a trillion to a trillion *EVERY NIGHT* to prop up stock and credit markets for over a month back when they were dolling out 3 trillion to bail out the banks since 3T is 20K for 150 million and they sent out 1200 checks lol thats 18K left whered it go lol

all thse million dollar PPP loans bailouts grants 
airlines laid off thousands bought back stocks per usual lol
same with pretty much all these millionaire they took money, fired people, put it back into theri stocks propping them up.....
nothing new
enron + madoff + a million other ponzis in different clothes


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## ANT 7 (Oct 14, 2018)

When they make their first profit of $10.........the stock will double and everyone will cash out.

Then, they will have another "unexpected loss" the next fiscal year.


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## 58756 (May 30, 2016)

fightlike2hockeysticks said:


> [HEADING=2]The Market Can Remain Irrational Longer Than You Can Remain Solvent[/HEADING]
> 
> the fed was pumping half a trillion to a trillion *EVERY NIGHT* to prop up stock and credit markets for over a month back when they were dolling out 3 trillion to bail out the banks since 3T is 20K for 150 million and they sent out 1200 checks lol thats 18K left whered it go lol
> 
> ...


The entire system is held up by artificial currency print that has no real gold backing.


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## EndofUber (Nov 8, 2019)

i really can’t understand how uber is not profitable their business model is clearly trash


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## Wildgoose (Feb 11, 2019)

Fire Dara and his team, and Uber would start gaining profit. 
Too much spending on salaries from non-huge profit company. 
Fire Dara, stock holder please sue him.


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## Stevie The magic Unicorn (Apr 3, 2018)

EndofUber said:


> i really can't understand how uber is not profitable their business model is clearly trash


Easy..

1.
When i was an owner operator i was shelling out over $400 a MONTH for commercial insurance. They are paying out a huge amount for insurance. I garuntee the people they are getting insurance from are turning a profit.

2. cocaine and hookers cost money


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## Ubercadabra (Oct 20, 2019)

Sooo they’re losing money & they’re making money for the last 10 yrs 🤷‍♂️


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## 58756 (May 30, 2016)

Ubercadabra said:


> Sooo they're losing money & they're making money for the last 10 yrs &#129335;‍♂


It's an artificial inflated system with printed currency that had no backing of gold.


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## ANT 7 (Oct 14, 2018)

Wildgoose said:


> Too much spending on salaries from non-huge profit company.


I come from an IT background. Worked for one of the top multinationals in the industry. Uber could run the app properly with about a dozen programmers. The "backroom" reconciliation area is where it gets pricey HR wise, but, with enough third world outsourcing it can be made ot work. Lot's of other companies can do it, why not Uber ?


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## The Gift of Fish (Mar 17, 2017)

Ozzyoz said:


> It's an artificial inflated system with printed currency that had no backing of gold.


The gold standard did not work, long term, for many reasons. This is why every country on the planet has abandoned it.

Sure, government borrowing is a problem, but this is not a result of not having a gold standard, but of policy. It's like someone blaming their massive credit card debt on the fact that they have credit cards. No... it's due to that person's lack of self control and planning ability.


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## BobDaScotty (Mar 5, 2020)

ANT 7 said:


> I come from an IT background. Worked for one of the top multinationals in the industry. Uber could run the app properly with about a dozen programmers. The "backroom" reconciliation area is where it gets pricey HR wise, but, with enough third world outsourcing it can be made ot work. Lot's of other companies can do it, why not Uber ?


Ex IT here too.

I agree with everything you typed, algos can do almost all the server-side business decisions, keep Phillipino call centres but hire stateside call centres for diamond level drivers and riders.

I find it utterly bizarre that a company that pays us from 33% to 50% of the take cannot balance it's books.


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## FrenchRidah (Jul 7, 2018)

I wonder if the Saudi Arabians pulled out of Uber yet?


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## 58756 (May 30, 2016)

8


BobDaScotty said:


> Ex IT here too.
> 
> I agree with everything you typed, algos can do almost all the server-side business decisions, keep Phillipino call centres but hire stateside call centres for diamond level drivers and riders.
> 
> ...


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## KevinH (Jul 13, 2014)

What is not mentioned in the 2019-2020 comparison is that over $4 billion of the 2019 loss was attributed to stock issuance to Uber workers and a $300+ million IPO award program to drivers. So the perhaps the operational loss in 2019 was actually somewhere around $4.6 billion and 2020 represents almost a 50% increase in loses.

Maybe 2021 could be even worse with IOUs stacking up and maybe coming to bear this year.
At least $650 million to New Jersey (on appeal)
We will know more abut this tomorrow when the UK supreme court issues the final decision on driver classification
$600 million in back pay to UK drivers
$1.2 billion in back employment taxes
$8 billion in past VAT taxes


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## observer (Dec 11, 2014)

KevinH said:


> What is not mentioned in the 2019-2020 comparison is that over $4 billion of the 2019 loss was attributed to stock issuance to Uber workers and a $300+ million IPO award program to drivers. So the perhaps the operational loss in 2019 was actually somewhere around $4.6 billion and 2020 represents almost a 50% increase in loses.
> 
> Maybe 2021 could be even worse with IOUs stacking up and maybe coming to bear this year.
> At least $650 million to New Jersey (on appeal)
> ...


Don't forget, courts have ruled that they still owe drivers back pay in California as well.

https://www.google.com/amp/s/www.ma...ve-california-supreme-court-rules-11610664242


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