Uber brought in $8.7 billion in gross bookings during the second quarter, marking a 17 percent increase over Q1 2017 and a 102 percent year-over-year jump. The number of global trips on its service increased 150% over the previous year, with growth strongest in developing markets. Adjusted net revenue, or what the company receives after it pays its drivers, also grew to $1.75 billion, compared to $1.5 billion in the first quarter.
The continued growth in ridership suggests Uber's core business has so far weathered a string of scandals.
Legal hostilities started two weeks ago when Benchmark sued Kalanick in Delaware's Chancery Court to force him off Uber's board and rescind his ability to fill three board seats.
Few companies have faced so many scandals in such a short amount of time as Uber.
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Several mutual funds, including BlackRock and T. Rowe Price, cut the value of their Uber shares by 15% recently, according to The Wall Street Journal. Uber is still on the process of finding its new CEO.
Uber also said drivers earned about $50m in tips since June. While Uber is estimated to be worth around $70 billion in all, making it the world's most valuable unlisted company, these downgrades imply that figure is on the decline.
Uber Technologies Inc's financial engine appeared to be purring in the second quarter of the year, despite its image being dented so badly that its chief was pressured to resign. Currently, the company has $6.6 billion in the bank, down from roughly $7.2 billion in the first quarter. This is nine percent less than the $708 million loss in the first quarter of the year.
Presuming Uber's revenue reaches $8 billion this year and it loses well over $1 billion, the company faces significant competition from quarters as diverse as Lyft to traditional auto manufacturers. The original disruptor will continue to impact people in their everyday lives, and businesses in terms of organisational transformation for many years to come.