Despite ongoing drama, Uber books record revenue and riders

Despite ongoing drama, Uber books record revenue and riders

The top post has sat vacant since founder Travis Kalanick stepped down in June following a scandal from allegations of personal wrongdoing and a pervasive culture of sexual harrassment at the company.

As Uber continues in its attempt to fix its image following a string of scandals, the company has seen a 17 per cent increase in gross bookings in the second quarter to $8.7bn (£6.8bn) - double that of a year earlier.

That's a 17 percent increase over the first quarter, and a 102 percent increase year-over-year.

Earnings figures first reported at news website Axios and confirmed by AFP showed that adjusted net revenue at Uber was $1.75 billion in the second quarter, more than doubling from about $800 million in the same period in 2016. Uber had $US6.6 billion in cash at the end of the second quarter, down from $US7.2 billion at the end of the first quarter.

Uber, the ride-sharing giant, has seen its business revenues continue to increase, despite the string of controversies that have followed it in the first half of 2017, according to data released today.

Benchmark filed its suit earlier this month, alleging that Kalanick in 2016 misled Uber into approving three new seats on the company's board of directors and granting him appointment powers.

Uber's many crises have emboldened the company's competitors.

Since 2010, Uber has raised more than $15 billion from investors, allowing it to operate at a significant loss. Uber is now in need of a CEO, COO, CFO, CMO and SVP of engineering.

The embattled ride-hailing startup narrowed its losses by almost 9% in the second quarter, while bookings, trips and revenue continued to climb year-over-year, according to Axios.

Uber drivers were also able to generate a total of $50 million in tips ever since the in-app tipping program started in selected markets on June 20. It includes Russian Federation, where Uber's recently-announced partnership with Yandex has yet to be approved by local regulators, Axios reported. Adjusted net losses also fell 9 percent to $645 million, a sign that margins are improving.

The positive results come amid a largely turbulent year for Uber.

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