Dara Khosrowshahi

Mark MacGann, the whistleblower behind the so-called Uber Files, said on Wednesday that the ride-hailing company seemed to be taking steps toward improving its work culture, but that its business model was still "absolutely" unsustainable. The Guardian and Le Monde newspapers reported in July that Uber Technologies Inc broke laws and secretly lobbied politicians as part of an aggressive drive to expand into new markets from 2013 to 2017. MacGann, who led Uber's lobbying efforts to win over governments, identified himself…

Uber Technologies Inc.’s elevated ride-share prices may be here to stay, according to Chief Executive Officer Dara Khosrowshahi. Uber Technologies Inc.'s elevated ride-share prices may be here to stay, according to Chief Executive Officer Dara Khosrowshahi. “I don't think prices are going to go down to pre-pandemic levels but we have seen pricing ease,” Khosrowshahi said in a Bloomberg Television interview discussing the ride-hailing giant's third-quarter results. On Tuesday, Uber reported revenue during the…

Uber Technologies Inc forecast fourth-quarter operating profit above Wall Street estimates, betting on cost controls and rising demand for its rides as customers resume spending more on travel, sending its shares up 13 percent. With cities reopening and travel booming, consumers are shifting their budgets to services, Chief Executive Dara Khosrowshahi said, compared to the two years of COVID-led lockdowns when they had limited spending to basic needs. "Right now, frankly, we're not seeing any signs of consumer…

Photo: ROBYN BECK/AFP (Getty Images)A federal jury has convicted Uber’s former security chief of charges related to a 2016 cover-up involving the ride-share giant, according to journalists present in the courtroom. Joe Sullivan, who was found guilty of one count of obstruction and one count of misprision of a felony on Wednesday, helped to conceal a massive 2016 data breach from authorities, while also obstructing a Federal Trade Commission investigation. Sullivan’s troubles began in the fall of 2016, when two…

Air travelers wait in the ride share lot near a sign for Uber at Los Angeles International Airport (LAX) on August 20, 2020 in Los Angeles, California.Mario Tama | Getty ImagesShares of gig economy companies Uber, Lyft, DoorDash and Airbnb popped this week after the companies posted quarterly reports that showed strong demand.Lyft finished the week up 46%, and Uber jumped 37%, the best week ever for both stocks. DoorDash closed up 15%, and Airbnb rose for a third straight week, climbing 5.5%.Investors are encouraged to…

Uber Technologies Inc reported positive quarterly cash flow for the first time ever on Tuesday and forecast third-quarter operating profit above estimates, as more people rely on its services for transport and ordering in food. The company's stock surged 15% to $28.2 and helped push shares of Lyft Inc by 11% and DoorDash by 4%. Uber generated free cash flow of $382 million in the second quarter, topping analysts' expectations of $263.2 million, as trips exceeded levels seen before the pandemic, boosted by office…

Uber UBER 18.90% Technologies Inc. doubled quarterly revenue, improved its financial performance and said high inflation was causing more people to drive for the platform to help offset rising household costs. The ride-hailing company said Tuesday that revenue grew 105% to $8.07 billion for the three months through June. The company also posted adjusted earnings—a figure that excludes some expenses—of $364 million, its strongest ever. Both figures beat Wall Street…

Uber’s co-founder and former CEO Travis Kalanick looks out at the floor of the New York Stock Exchange (NYSE) on May 10, 2019 in New York City.Photo: Spencer Platt (Getty Images)Uber spent at least half a decade breaking laws and engaging in a coordinated influence campaign to force itself into countries with tight transportation regulations, according to explosive new report by the Guardian based on tens of thousands of Uber’s internal documents that were leaked to the newsoutlet.The 124,000 files, which cover 2013 to…

Uber posted a $5.9 billion loss in the first quarter of 2022.Philip Pacheco | AFP via Getty ImagesIn this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later.The creation of Uber in the wake of the 2008 financial crisis can be compared to an earlier disruptive innovation: the supermarket.In 1930, in the early months of the Great Depression, Michael J. Cullen leased a vacant garage in Queens, New York, and built King Kullen, what is widely considered the first-ever…

A federal judge said that a former Uber Technologies Inc security chief must face wire fraud charges over his alleged role in trying to cover up a 2016 hack that exposed personal information of 57 million passengers and drivers. The US Department of Justice in December added the three charges against Joseph Sullivan to an earlier indictment, saying he arranged to pay money to two hackers in exchange for their silence, while trying to conceal the hacking from passengers, drivers, and the US Federal Trade Commission.US…