On February 10th, the company's director of global mobility at the time revealed that the Uber wants all taxis on platform by 2025. In addition, the idea is for taxi drivers to operate in markets where there is strong regulation in the area of transport through applications. Understand the company's statement better!
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Uber intends to benefit from the entry of taxis on its platform
Andrew Macdonald, chief mobility officer at Uber, revealed to investors his expectation that there will be a turnaround in the company's financial results in the future.
In this sense, it is worth remembering that the company ended 2021 with a loss of US$ 496 million, due precisely to the participation of taxis in the app from the middle of last year. At the time, the director also stated that he understands the irony because “Uber is telling you that taxis are the future”.
Also according to Macdonald, users who enter the Uber app in order to request a trip by taxi end up using other services, such as Uber Eats, for example. Therefore, the company gets more customers.
Uber is hopeful for the year 2022
According to executive projections, the company should operate with a positive cash flow by the end of this year. Thus, the company's Chief Financial Officer, Nelson Chai, estimated that earnings before depreciation, amortization, taxes and interest (EBITDA) will be US$5 billion by 2024.
Regarding the movement in the racing sector, the company recently released its financial results, indicating that there was a 67% increase in this sector during the year 2021. After the news, the company's shares rose 6%, however they have already fallen 6% and returned to the level before the result.
Analysts expect Uber to prove financially sustainable
Analysts at FactSet were hopeful that Uber would earn an EBITDA of approximately BRL 5.3 billion by 2024. However, the company's projection scared them, and now they expect the platform to overcome the loss of revenue and prove to be a financially sustainable company.