
Uber Finds Profits in Leaving Tough Overseas Markets - gk1
https://www.nytimes.com/2018/05/23/technology/uber-finds-profits-in-leaving-tough-overseas-markets.html
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WisNorCan
Profits in this case are one-time gains from exiting some of the largest
markets in the world.

From a better article (1):

“But there’s a big caveat with that figure. Uber gained $2.9 billion after it
merged its businesses in Russia and Southeast Asia with local competitors.

... Excluding gains from Uber’s deals with Yandex in Russia and Grab in
Southeast Asia, the company lost about $480 million, down from $1.1 billion in
losses in the previous quarter”

So, the losses have narrowed, but that is expected as the markets Uber is
competing in has been reduced. Didi is interestingly going to go after South
America one of Uber’s best markets.

(1)
[https://www.recode.net/2018/5/23/17380952/uber-2018-financia...](https://www.recode.net/2018/5/23/17380952/uber-2018-financials-
yandex-grab-softbank)

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misun78
Top line grew by 70% YOY so the reduction in losses cannot be attributed just
to Uber exiting markets (which would correspond to reduced growth). 70%
increase in bookings with 55% reduction in losses is pretty remarkable.

