Uber's Business Is Still Growing Despite Months of Bad News, Scandals and Turmoil
Style Magazine Newswire | 7/14/2017, 1:21 p.m.
Uber's business appears to be surviving the string of scandals that have plagued the ride-hailing giant. According to a report from Bloomberg, the company told investors during a 15-minute call on Tuesday that its gross bookings for rides were up 10% from the previous quarter. Uber's losses also narrowed during the time, although the actual amount of the loss was not clear. A source familiar with the matter confirmed the Q2 performance results to Business Insider. The call was meant to soothe anxious investors after months of scandals have sent the $69 billion company into turmoil, culminating with CEO Travis Kalanick's resignation last month. Uber's long-time business chief Emil Michael was forced to resign last month. And Uber fired more than 20 employees as a result of an investigation into bad behavior in the workplace that includes sexual harassment.