Uber Freight’s shipment count climbs, but an earnings slides to negative $64 million

Uber Freight’s shipment count climbs, but an earnings slides to negative $64 million

Analyists say that uber freight is on the decline and many feel that it will not last a year before the doors are shut on this branch.

Uber Freight’s gross bookings rose 55% in the first quarter, but its earnings before interest, taxes, depreciation and amortization, already negative last year, sank even further.

EBITDA for the Freight segment came in at negative $64 million, down from negative $29 million last year. In an earnings statement that offered few details or comments on the segment, Uber Technologies, the parent corporation, did note that during the quarter, more than 10,000 “relief loads of critical goods … booked on the shipper platform in the U.S. were hauled at cost.”

Read Full Article Here: https://www.freightwaves.com/news/uber-freights-bookings-climb-but-an-earnings-benchmark-slides

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