Forecast for customer spending on ride-hailing app fell slightly short of Wall Street’s estimates
Uber’s shares slid as much as 8 per cent on Thursday, as it said higher prices for its ride-hailing service in the US were putting the brakes on its growth rate. Dara Khosrowshahi, Uber’s chief executive, said consumer demand “continues to be strong”, as it reported revenue growth of 20 per cent in the third quarter. However, Uber’s forecast for customer spending on its platform fell slightly short of Wall Street’s estimates, with a slower growth rate than in recent quarters.
Uber has struck partnerships with Google’s Waymo self-driving taxi service and General Motors’ rival Cruise, as well as introducing new ventures such as teen accounts, hiring motorbikes and the ability to reserve cars in advance.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Couple hurt in Uber crash can't sue as 'daughter agreed to Uber Eats terms'The couple said they are 'horrified' by the decision - and this may not be the end of the legal fight.
Read more »
Belfast young people share experiences of life along city's longest peace wallThe Wall2Wall project works with young people living on either side of the Cupar Way peace wall in Clonard and Shankill
Read more »
Blackpool streets could get life-saving defibrillatorsThey would be inside new 'communication hubs' offering free internet
Read more »
These are the ridiculous excuses from the rioters who brought chaos to our streets'I went to the city centre to go shopping'
Read more »
Map reveals spate of urgent flood warnings as rivers burst banks, paths collapse & streets underwaterStorm Ashley ‘intensifying rapidly’ as it barrels towards UK bringing 80mph winds, huge waves & floods, warns Met Office
Read more »
Pretty UK town with cobbled streets and Harry Potter filming locationThe historic market town is also home to the world's largest treehouse
Read more »