|Uber said Wednesday that it lost $708 million in the first quarter on $3.4 billion in revenue, narrowing its loss of $991 million in the previous quarter on $2.9 billion in revenue. A spokesman said the results showed the ride-hailing service was on a “good trajectory” toward profitability. “These results demonstrate that our business remains healthy and resilient as we focus on improving our culture, management and relationship with drivers,” the spokesman said in a statement. The company also said head of finance Gautam Gupta is leaving in July, the latest in a series of departures by about a dozen top executives, as the company struggles to contend with negative reports about its corporate culture.
Source: The New York Times, Reuters