Uber is often like the mysterious and secretive rich neighbor who you have always wondered about and are dying to know as to what is going on inside his/her home. Uber, an app for driver service, has always managed to beat around the bush and give vague answers to questions concerning its financial position.You may find more information at uber promo codes tampa.
Even during a stage of stern opposition from other parties and various cases against its safety, security and employment policies, Uber has managed to magically come out shining and crushing anyone who poses a threat to its success. It is an undeniable fact that Uber is a global force undergoing an exceptional increase in its operations and functions every passing day. With transactions worth billions on a regular basis, it is a force to be reckoned with and a dominant player in the commutation market.
Uber – an app for driver service is not even six years old, but still has managed to be extraordinarily advanced with its operations. It captured the taxi market by a storm when it gave the customers a premium service as compared to the local yellow cabs and this innovative feature is what helped it to gain a major market share. With its mature and professional approach, both the drivers and riders trust it completely. Looking up to it, we can see a huge rise of Uber like app development by rising entrepreneurs. They are studying Uber’s every move closely and working on its deficiencies and adopting its strengths.
According to recently leaked reports, Uber’s financial data shows huge growth as well as significant losses. Estimates would put the company’s earnings at roughly 2 billion dollars.
According to reports Uber had a gross booking worth 3.63 billion dollars in the first half of 2015 as against 2.93 billion dollars in the previous year. It would be safe to say that its overall ride-hailing service is going strong and going with the trend it might have very well increased its bookings in the current year i.e. 2016.
Now let us focus on the net revenue. Net revenue is different from gross revenue. That is the amount Uber app for driver service actually receives before it deducts its costs from the revenue earned but after it pays drivers their share and incentives, etc. it came in at 663.2 million dollars in the first half of 2015 as compared to 495.3 million dollars in the year 2014.
The additional incentives to encourage riders as well as drivers are having an adverse impact on the company’s revenue. The money invested in offering promotional fares to riders and incentives to the drivers is on the larger side.
Operating expenses are also on the rise. The general and administrative expenses shown in the documents are also quite high.
Marketing and research costs, one of the major expense category registered a whopping 295 million dollars as expenditure in the year 2015.
Stock-based compensation also occupies a large part of the expenditure structure of the company. The losses could be estimated up to 987.2 million dollars for the year 2015.