Uber Technologies Inc’s financial engine appeared to be purring in the second quarter of the year, despite its image being dented so badly that its chief was pressured to resign.
Earnings figures first reported on news Web site Axios and confirmed by reporters showed that adjusted net revenue at Uber was US$1.75 billion in the second quarter, more than doubling from about US$800 million in the same period last year.
Gross bookings at the leading smartphone-summoned ride service doubled to US$8.7 billion in the April-to-June period, as the number of trips climbed 150 percent from a year earlier.
The company’s adjusted net loss fell nearly 14 percent to US$645 million from the same quarter last year, Uber confirmed.
Meanwhile, Uber drivers have earned US$50 million in tips since a gratuity option was added to the ride-sharing application in June.
Uber has been working to improve its relationships with drivers and riders after being hit with controversies that led to the resignation of founder and former chief executive Travis Kalanick.
The company is still searching for a new chief as rumors swirl that Kalanick is orchestrating a return behind the scenes.
Kalanick is asking for the dismissal of an investor lawsuit against him, calling it part of a personal attack aimed at sidelining him.
Kalanick’s departure capped a rocky period for the global ridesharing giant, which has been roiled by disturbing reports of a cutthroat workplace culture, harassment, discrimination and questionable business tactics to thwart rivals.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
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