Uber's CEO Khosrowshahi vows to tackle Q2 losses, with help from India

Uber is one of the most prominent companies in the portfolio of SoftBank Group

Uber Technologies Chief Executive Officer Dara Khosrowshahi vowed to get his company to profitability while pursuing growth from emergent 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 per cent 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