Adjusted EBITDA loss for the recently ended quarter was $527 million, down 13% from the year-ago period. The ride-hailing company’s gross cash declined to $6.55 billion from $7.3 billion at the end of the second quarter.
Nelson Chai, who was appointed as the CFO in August, said, “As we look ahead to an IPO and beyond, we are investing in future growth across our platform, including in food, freight, electric bikes and scooters, and high-potential markets in India and the Middle East where we continue to solidify our leadership position.”
Uber’s Q2 revenue and bookings increase YoY
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Like the rival Lyft, the San Francisco-based firm announced a rewards program, Uber Rewards, for its ride-hailing and food delivery business on Wednesday. Through this rewards program, Uber will offer perks to its loyal customers such as cash back on rides and priority pickups.
On October 2, the Dara Khosrowshahi-led firm appointed Nikki Krishnamurthy as its Chief People Officer. Before joining Uber, she served as Chief People Officer in Expedia Inc (EXPE).