In February, several pieces of Uber Technologies news suggest that further challenges are to come as the company aims for profitability
Earlier this month, Uber reported its 2019 fourth quarter earnings, with a net loss of $1.1 billion, marking a slight improvement on the previous quarter. CEO Dara Khosrowshahi made headlines by telling investors that the company nevertheless plans to be profitable in 2021, if not sooner.
“The company is also facing enormous pressure from regulators ... still struggling to comply with California’s groundbreaking new gig work law ... [and] also lost its license in London after regulators identified a ‘pattern of failures.’” In spite of this, Khosrowshahi told investors that he was “challenging his employees to move the timeline for profitability up to the fourth quarter of 2020,” Hawkins wrote.
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