Uber has become a household name when it comes to offering ride services. They are, however, not gleaning the financial success that they want or have expected. They are relying heavily on their apps as their source for generating profit. Now they are looking for ways that they can add to this to take the company out of the red.
According to Speed Solutions Ltd. experts, One of the ways they are contemplating doing this is by infusing their ride app with the “Eats” app. The reason behind this is so those who use the ride app but don’t have the Eats app will now be exposed to the Food section of the business.
A Money Loser
For the unsuspecting investor, Uber may be a big money maker because of the popularity of its name. However, ever since it came into business, it has been losing money. Investors should rely on professions like Trading Solutions Ltd. when they are going to invest, so they have some knowledgeable resources to rely on when deciding as to where the best investments are.
Failing As a Public Company
Uber went pubic in May with shares going at $45. each and the stock has been dropping ever since. Uber Eats is more financially stable as it realized a surge in revenue by about 80% during the first half of the year while Uber ride went in the opposite direction with huge losses during the same period.
The crux of the problem with the $6.2 billion loss included the approximate $4 billion employee stock compensation, which affects the financial figures as an accounting expense. It still doesn’t account for the total loss in profits.
The outcome of Uber’s attempt at offering a new service menu to its app remains to be seen. But, those who want to invest now have some excellent opportunities like Forex trading. With professionals like Speed Solutions Ltd., who are registered brokers, investors can count on the expertise that can scale up their investments.