Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi is vowing to make his company profitable while pursuing growth from emerging 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 percent 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.