Uber has received quarterly loss of more than $700 million

Uber получила квартальный убыток более $700 млн

Chief financial officer will retire.

The developer of an online service for taxi service Uber Technologies Inc has announced a loss in the first quarter of 2017, despite revenue growth.

The company told The Wall Street Journal that its revenue in the first quarter of 2017 amounted to $3.4 billion, which is 18% higher than the fourth quarter of last year.

However, Uber has reported a loss excluding one-off factors in the amount of $708 million in the last quarter. In the fourth quarter loss amounted to $991 million.

Since the founding in 2008, Uber has attracted about $15 billion of debt and equity financing. Of this amount, the company is about $7.2 billion – roughly the same as at the end of last year, as the company’s activities requires a huge investment.

“The decrease in net loss in the first quarter have created a good path for the movement to profit”, – said the representative of Uber.

It is also reported that the CFO of Uber Gautam Gupta will leave the company in July. Uber has already begun the search for candidates for the post of chief financial officer with experience in public company.

Uber operates without a chief financial officer in 2015, when the company left the Brent Callinicos, who held the position. Gautam Gupta working in the company since 2013, and have not held the position of CFO.

As reported Корреспондент.netin April, Uber has published the results for 2016, to give investors an idea about their performance, because considering the IPO. The company reported that its net profit last year amounted to 6.5 billion dollars, while the net loss was equal to 2.8 billion dollars.

Uber taxi drivers will return millions of dollars for a mistake

According to the materials: