Uber posts $708 million loss, finance head leaves - WSJ
Uber`s first-quarter loss, excluding employee stock compensation and other items, was $708 million, narrower than the $991 million reported three months earlier, the Journal said.
Uber Technologies Inc`s [UBER.UL] head of finance is leaving as the ride-hailing company reported continued big losses for the first quarter, the Wall Street Journal reported on Wednesday.
The ride-hailing company`s first-quarter revenue was $3.4 billion, up 18 percent from the fourth quarter, the newspaper reported. (http://on.wsj.com/2rcyDHM)
Uber`s first-quarter loss, excluding employee stock compensation and other items, was $708 million, narrower than the $991 million reported three months earlier, the Journal said.
Uber`s head of finance, Gautam Gupta, is leaving the company in July to join another startup in San Francisco, adding to an exodus of top officials, the report said.
As a private company, Uber does not report its financial results publicly but at times has confirmed figures reported in the media.
Uber was not immediately available to comment.
The ride-hailing company is in the lookout for a chief operating officer to help change the Silicon Valley firm`s now-notorious "bro" culture and with the latest exit sets the stage for a second major executive search.
The company on Tuesday fired the technology whiz it had hired to lead its self-driving unit, Anthony Levandowski, after he failed to comply with a court order to hand over documents at the centre of a legal dispute between Uber and Alphabet Inc`s Waymo unit.
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