Uber narrows 2Q loss as company polishes tarnished image

Published 08-15-2018

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SAN FRANCISCO (AP) - Uber is still struggling to make money while the ride-hailing service's CEO deals with the headaches left behind by his predecessor.

The second-quarter results released Wednesday show Uber's pioneering service continues to reel in more passengers and revenue, despite a variety of debacles that tarnished its reputation and spurred some disillusioned riders to defect to its main U.S. rival, Lyft.

That has further complicated Uber's efforts to prove it can mature into a profitable business.

The San Francisco company lost $891 million from April through June, narrowing from a $1.06 billion loss a year ago.

Gross bookings on the ride-hailing service brought in $12 billion, up 41 percent from a year ago. Those numbers are encouraging because it shows Uber is still attracting riders in droves.

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FILE - This March 20, 2018, file photo shows the Uber app on an iPad in Baltimore. Uber reports earnings Wednesday, Aug. 15. (AP Photo/Patrick Semansky, File) - The Associated Press

FILE- In this June 6, 2018, file photo Uber driver Joshua Oh drives in Honolulu. Uber reports earnings Wednesday, Aug. 15. (AP Photo/Caleb Jones, File) - The Associated Press