Which if I recall correctly they are only profitable due to a one time revenue boost right of something like hundreds of millions ?
And that one time "revenue" boost was that a company they own they are asserting is now valued more than last year. And they are calling that "revenue".
>One of the pre-requisites for that is being profitable on a GAAP basis.
Uber lost money for 22 straight quarters, then made money for the last two. Bit optimistic to think it's smooth sailing from here, in my opinion. I enjoy Uber, the product, but they are middle manning a couple of low margin industries. Hard to imagine it being a multi-hundred-billion dollar company.
> That's a somewhat outdated narrative to still be parroting.
It's not. Most of those "innovators" are still posting losses in the hundreds of millions
> Uber just got included into the SP 500. One of the pre-requisites for that is being profitable on a GAAP basis.
Because you can somehow lose a billion dollars a year for 10 years, become a publicly traded company with a steatement "we don't even know if we'll ever turn a profit", still continue operating at a huge loss for several years, write off 6 billion in losses, and finally become profitable enough to be included in S&P.
Any any other, sane world, Uber would be gone after two years of losing a billion dollars a year. Not crawl into S&P after 10 years of unsustainable losses.
BoiledCabbage|2 years ago
And that one time "revenue" boost was that a company they own they are asserting is now valued more than last year. And they are calling that "revenue".
lhorie|2 years ago
itsoktocry|2 years ago
Uber lost money for 22 straight quarters, then made money for the last two. Bit optimistic to think it's smooth sailing from here, in my opinion. I enjoy Uber, the product, but they are middle manning a couple of low margin industries. Hard to imagine it being a multi-hundred-billion dollar company.
unknown|2 years ago
[deleted]
troupo|2 years ago
It's not. Most of those "innovators" are still posting losses in the hundreds of millions
> Uber just got included into the SP 500. One of the pre-requisites for that is being profitable on a GAAP basis.
Because you can somehow lose a billion dollars a year for 10 years, become a publicly traded company with a steatement "we don't even know if we'll ever turn a profit", still continue operating at a huge loss for several years, write off 6 billion in losses, and finally become profitable enough to be included in S&P.
Any any other, sane world, Uber would be gone after two years of losing a billion dollars a year. Not crawl into S&P after 10 years of unsustainable losses.
sokoloff|2 years ago
ceejayoz|2 years ago