Uber Loss $ 708 Million, Retired Financial Boss

Uber Loss $ 708 Million, Retired Financial Boss
Uber recorded a loss of USD 708 million. The bad news is accompanied by the departure of the financial boss of the ride sharing company.

Mentioned that Gutta Gupta who currently served Head of Finance will resign in July 2017 to join to another startup in San Francisco, United States.

Gupta's resignation came shortly after Uber reported its financial performance for Q1 2017, where they posted a loss of about $ 708, according to the Independent.

Although the loss is enormous, but for Uber it is an achievement, as it is significantly less than in the previous quarter. In Q4 2016, Uber recorded a loss of $ 991 million.

As a private company, Uber is not required to report its financial performance to the public. But they volunteered to report the figures to the mass media.

Although the loss figures they reported did not actually include stock compensation for employees and a number of other things. In addition to declining losses, Uber also said revenue rose 18% over the previous quarter, which was recorded at $ 3.4 billion.

It is unclear whether this loss figure is related to Gupta's resignation, which will move to another startup from July 2017. One of the reasons for Gupta's resignation is his stubborn position at Head of Finance.

Whereas the position above it -Chief of Finance-has been empty since 2015, when Brent Callinicos left Uber and moved to Hyperloop One. And until now the position of Chief of Finance is still empty.  

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