Skip to content
Subscriber Only

Uber’s CEO Vows to Tackle Those Losses, With Help From India

  • Khosrowshahi says 12 years of running Expedia will help
  • Uber is struggling to convince investors of its potential
Dara Khosrowshahi
Dara KhosrowshahiPhotographer: Samyukta Lakshmi/Bloomberg
Updated on

Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi vowed to get his company to profitability while pursuing growth from emergent arenas such as India, addressing investors’ concerns about the ride-sharing company’s mounting losses and global regulatory challenges.

Uber, which lost about $5.2 billion in the second quarter alone, is having a tough time convincing the market of its growth potential, or that it can turn a profit anytime soon. Its stock has plummeted 27% since a disappointing initial public offering in May. Khosrowshahi, who this month unveiled a final round of job cuts, said the core rides business would achieve profitability even as newer lines such as Eats gained traction.