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Briefing
uber/lyft

Uber Reports Rough First Quarter Results

By
Amir Efrati
· · Source: The Information

Uber reported one of its worst-ever quarterly results on Thursday, confirming estimates it gave ahead of its May IPO. The results reflected Uber’s scorched-earth strategy of killing its core-business margins to stand its ground against rising competition. CFO Nelson Chai said in a statement that Uber “started to see signs of less aggressive pricing by some ridesharing competitors, which has...

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