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Uber reports Q4 financials – Business Insider Deutschland

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Dara KhosrowshahiUber CEO Dara Khosrowshahi, whose company reported a dramatic slowdown in sales growth in the fourth quarter.Getty

  • Uber’s loss dropped to $370 million last year from $4.5 billion in 2017, the company reported Friday.
  • But its bottom line was boosted by the sale of two of businesses.
  • And its growth rate slowed dramatically in the fourth quarter; sales grew just 2% from the third quarter and only 25% from the holiday period of 2017.

Uber dramatically narrowed it loss last year, thanks to the sale of its businesses in Russia and Southeast Asia, the company reported Friday.

But its business slowed dramatically in the fourth quarter, and without the asset sales, it would have posted a loss of more than $1 billion.

The app-based taxi service lost $370 million on sales of $11.3 billion in 2018, the company said. Uber showed improvement on both its top and bottom lines for the year; in 2017, it lost $4.5 billion on $7.5 billion in sales.

Uber’s bottom line benefitted from the business sales. Excluding those and certain other charges and benefits, the company would have lost $1.8 billion last year. On that same basis, Uber lost $2.2 billion in 2017.

Read this: Uber booked $2.2 billion in sales last quarter — but it still took a $1.1 billion loss

In the fourth quarter, the company lost $865 million on $3 billion in sales. In the same period of 2017, the company lost $1.1 billion on sales of $2.2 billion.

On the revenue side, it showed a growth rate of just 25% — far slower than the 43% pace the company posted for the whole year, and well below the 61% annual growth rate Uber recorded in 2017.

What’s more, the company’s sales were up only 2% in the fourth quarter from the third quarter last year. Also, its take rate — its commission on what customers pay for Uber rides — declined from both the year-earlier period and the third quarter.

That slowdown could worry prospective investors as the company gears up for its initial public offering. The company confidentially filed its paperwork for an IPO last month, The Wall Street Journal reported.

Uber ended 2018 with $6.4 billion in cash. That was up from $4.8 billion at the end of the third quarter.

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More groups join in support of women in STEM program at Carleton

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OTTAWA — Major companies and government partners are lending their support to Carleton University’s newly established Women in Engineering and Information Technology Program.

The list of supporters includes Mississauga-based construction company EllisDon.

The latest to announce their support for the program also include BlackBerry QNX, CIRA (Canadian Internet Registration Authority), Ericsson, Nokia, Solace, Trend Micro, the Canadian Nuclear Safety Commission, CGI, Gastops, Leonardo DRS, Lockheed Martin Canada, Amdocs and Ross.

The program is officially set to launch this September.

It is being led by Carleton’s Faculty of Engineering and Design with the goal of establishing meaningful partnerships in support of women in STEM.  

The program will host events for women students to build relationships with industry and government partners, create mentorship opportunities, as well as establish a special fund to support allies at Carleton in meeting equity, diversity and inclusion goals.

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VR tech to revolutionize commercial driver training

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Serious Labs seems to have found a way from tragedy to triumph? The Edmonton-based firm designs and manufactures virtual reality simulators to standardize training programs for operators of heavy equipment such as aerial lifts, cranes, forklifts, and commercial trucks. These simulators enable operators to acquire and practice operational skills for the job safety and efficiency in a risk-free virtual environment so they can work more safely and efficiently.

The 2018 Humboldt bus catastrophe sent shock waves across the industry. The tragedy highlighted the need for standardized commercial driver training and testing. It also contributed to the acceleration of the federal government implementing a Mandatory Entry-Level Training (MELT) program for Class 1 & 2 drivers currently being adopted across Canada. MELT is a much more rigorous standard that promotes safety and in-depth practice for new drivers.

Enter Serious Labs. By proposing to harness the power of virtual reality (VR), Serious Labs has earned considerable funding to develop a VR commercial truck driving simulator.

The Government of Alberta has awarded $1 million, and Emissions Reduction Alberta (ERA) is contributing an additional $2 million for the simulator development. Commercial deployment is estimated to begin in 2024, with the simulator to be made available across Canada and the United States, and with the Alberta Motor Transport Association (AMTA) helping to provide simulator tests to certify that driver trainees have attained the appropriate standard. West Tech Report recently took the opportunity to chat with Serious Labs CEO, Jim Colvin, about the environmental and labour benefits of VR Driver Training, as well as the unique way that Colvin went from angel investor to CEO of the company.

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Next-Gen Tech Company Pops on New Cover Detection Test

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While the world comes out of the initial stages of the pandemic, COVID-19 will be continue to be a threat for some time to come. Companies, such as Zen Graphene, are working on ways to detect the virus and its variants and are on the forefronts of technology.

Nanotechnology firm ZEN Graphene Solutions Ltd. (TSX-Venture:ZEN) (OTCPK:ZENYF), is working to develop technology to help detect the COVID-19 virus and its variants. The firm signed an exclusive agreement with McMaster University to be the global commercializing partner for a newly developed aptamer-based, SARS-CoV-2 rapid detection technology.

This patent-pending technology uses clinical samples from patients and was funded by the Canadian Institutes of Health Research. The test is considered extremely accurate, scalable, saliva-based, affordable, and provides results in under 10 minutes.

Shares were trading up over 5% to $3.07 in early afternoon trade.

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