Uber to reinvest profits back into tech, emerging markets like India: CEO
Uber's net revenue grew 67 per cent to USD 2.5 billion, while it cut losses to half compared to a year ago, he said. "We are deliberately reinvesting our profits. Even with these impressive results, we're not going to let up on the gas. We expect to reinvest our profits back into our products and tech, emerging markets like the Middle East and India, as well as big bets like scaling Eats and JUMP globally," Khosrowshahi added.
Cab-hailing firm Uber will re-invest profits in its products and technology, emerging markets like India and to scale up its Uber Eats and JUMP businesses globally. Image source: Reuters