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Uber boss says U.S. market unprofitable amid tough competition from Lyft

Reuters  |  SAN FRANCISCO 

By Heather SomervilleSAN FRANCISCO (Reuters) - Uber Technologies Inc will continue to lose money in its home market for at least the next six months as rival Lyft Inc poses a fierce competitive challenge, Chief Executive Dara Khosrowshahi said on Thursday in his first public comments since taking the top job at Uber two months ago. "The U.S. is very, very competitive right now between us and Lyft, so I don't see the U.S. as being a particularly profitable market for the next six months," said Khosrowshahi, who made the comments at the New York Times DealBook conference in New York, which was ...

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First Published: Fri, November 10 2017. 03:11 IST
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