Uber's financials show company is still growing, despite the drama

Can someone get Travis Kalanick a chill pill?    
   Steve Jennings  Getty Images for TechCrunch

"We seek to make Uber a just workplace and there can be absolutely no place for this kind of behaviour at Uber - and anyone who behaves this way or thinks this is OK will be fired." said former CEO Travis Kalanick. As a private company, Uber is not required to publicly report its financial results, but earlier this year it began offering a glimpse of its performance by disclosing certain numbers.

The revenue gain was driven by the number of global trips taken, climbing 150 percent over the past year, with the 250 percent in emerging markets leading growth, followed by a 90 percent increase in developed markets.

Uber's business continues to grow as it licks its wounds from a tumultuous beginning to 2017.

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Legal hostilities started two weeks ago when Benchmark sued Kalanick in Delaware's Chancery Court to force him off Uber's board and rescind his ability to fill three board seats.

While the growth in Uber's revenue shows that its core ride-hailing business is still going strong, the scale of the company's quarterly losses is unprecedented among Silicon Valley startups.

Few companies have faced so many scandals in such a short amount of time as Uber.

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The group have said gross ride bookings for the second quarter were at $8.7 billion, up from the first quarter's $7.5 billion.

China's Didi Chuxing raised $5 billion this year, while Lyft Inc. has attempted to seize on Uber's many stumbles, donating $1 million to the American Civil Liberties Union after Uber was criticized for its ties to the Trump administration, for instance. Uber is still on the process of finding its new CEO.

Meanwhile, Uber drivers have earned $50 million in tips since a gratuity option was added to the ride-sharing application in June. Uber doesn't include the cost of stock-based compensation in its losses.

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News website Axios first reported Uber's second-quarter results on Wednesday. This is nine percent less than the $708 million loss in the first quarter of the year. The company had $6.6 billion on hand at the end of the quarter, down from $7.1 billion at the end of the first quarter.

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