Uber Losses Down in Fourth Quarter, but Still Huge

Alphabet and Uber

'We have a long way to go, but we have to re-earn our consumer and driver trust. He says that the perception of Uber, once in free fall, has finally stabilized and that "just getting the love back is a very important priority for us".

The figures cover a troubled year for the company as it faced sexual harassment claims and saw the departure of senior executives including its boss, co-founder Travis Kalanick, and a battle to continue operating in London.

Uber's losses widened past year, despite signs that it was pulling back from the brink in the final three months.

2017 was hardly a banner year for Uber, but the business did see some growth.

"I want you to be able to take an Uber and get into the subway... get out and have an Uber waiting for you", Khosrowshahi said during his speech.

The settlement came after four days of trial testimony that included a dramatic appearance by Kalanick, who fended off accusations of orchestrating a elaborate high-tech heist during more than two hours on the witness stand.

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"I want to run the bus systems for a city", Khosrowshahi said. During the past one year, there were lots of controversies associated with this ride-hailing company creating a negative impression and rising difficulty for them.

For the fourth quarter, Uber's net loss was $US1.1 billion, down from $US1.46 billion it lost in the third quarter. But The Wall Street Journal, which reviewed the company's figures, reported Uber increased sales by at least 10 percent every quarter in 2017.

Uber's results are hard to decipher because it only divulges pieces of data, taking advantage of its status as a privately held company.

Khosrowshahi spoke with investors on a conference call Tuesday afternoon.

A person briefed on the results provided some numbers and confirmed the accuracy of The Information's story to The Associated Press on Wednesday. Later, Levandowski sold that company to Uber and allegedly handed those purloined documents over to the new owners to help with their own autonomous vehicle ambitions.

Ride-hailing company Uber lost $4.5 billion (€3.64 billion) past year, technology site The Information reported late Tuesday. Under Kalanick, Uber had run roughshod over regulators, faced accusations of rampant sexual harassment, and allegedly obtained medical records of a woman in who said an Uber driver in India had raped her (Uber recently settled a US lawsuit that the woman had filed against the company). The CEO said that while he's somewhat uncomfortable running a money-losing business after joining from profit-generating Expedia Inc., it's the right strategy for Uber.

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