Representative image.

NEW DELHI: Uber is “deliberately investing” in products like Uber Eats and Pool as well as “high-potential” markets in the Middle East and India even as the cab-hailing app saw its losses widening year-onyear in the June 2018 quarter. The US-based company’s adjusted losses before interest, tax, depreciation and amortisation declined 24 per cent to $404 million in the June quarter from the year ago period but increased 32 per cent on sequential basis.

“Going forward, we’re deliberately investing in the future of our platform — big bets like Uber Eats; congestion and environmentally friendly modes of transport like Express Pool, e-bikes and scooters; emerging businesses like Freight; and high-potential markets in the Middle East and India where we are cementing our leadership position,” Uber CEO Dara Khosrowshahi said.

Uber’s June 2018 quarter net revenue was $2.7 billion, up 51 per cent from the same quarter last year, while gross bookings were $12 billion (41 per cent higher year-on-year). The Uber Eats business is growing 200 per cent a year and has a $6-billion run rate.

Uber India and South Asia president Pradeep Parameswaran said, “With over 1 billion trips in India and South Asia and counting, we are focused on winning hearts and minds in the market by doubling down on products.”

