'Cars Are to Us What Books Are to Amazon,' Uber CEO Says

Alphabet and Uber

Alphabet and Uber

Comparisons with 2016 were also affected by the sale that year of its business in China resulting in a substantial gain.

The company also said that its U.S. ride-hailing market share dropped from 82 percent at the start of past year to 70 percent in the fourth quarter.

"Cars are to us what books are to Amazon", Khosrowshahi said at a conference in San Francisco, as reported by the Financial Times.

There was one silver lining for the ride-hailing company, though, as it was able to show improvement in its fourth quarter by narrowing its loss to $1.1 billion after losing $1.46 billion in the previous three months. The surprise settlement announced Friday came as lawyers for Uber and Waymo, a company hatched from Google, prepared to wrap up the first week of a trial that had attracted global attention.

Gross revenue for the year rose 85 percent over 2016, to $37 billion.

Hero football coach Aaron Feis dies in Florida school shooting
Nicholas Dworet , who died in a Florida school shooting, had committed to swim for the University of Indianapolis. The college announced Thursday that the senior was among those killed in the mass shooting at his high school.

Uber's loss was mainly based on accepted accounting standards, which includes write-downs and significant legal expenses. On an adjusted basis, excluding stock-based compensation, legal costs, taxes and depreciation, the company lost $US2.2 billion for the full year.

The job is proving to be even more hard than Khosrowshahi anticipated five months ago after Uber lured him away from online travel agency Expedia to replace its embattled co-founder, Travis Kalanick, as CEO.

Waymo and Uber last week announced a settlement in a blockbuster lawsuit over allegedly stolen trade secrets from the former Google self-driving auto project.

At a Goldman Sachs technology conference in San Francisco, California, he spoke about the ugly legal battle over self-driving vehicle technology and other subjects during a wide-ranging on-stage interview. Uber agreed to give Waymo stock valued at $245 million to settle the suit last week.

Uber hasn't made it easy to compare last year's financials to years past. It's been two days for the courtroom war and allegations fight happening between Waymo and Uber and the portrayal of the ride-hailing company is more or less of a greedy and aggressive company who would do anything to win the race including unethical practices like stealing the trade secrets from their competitors.

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