Uber is reported to have lost an estimated $520 million in the first quarter and $720 million in the second quarter, according to Gautam Gupta, head of finance.

Ride-hailing service Uber and competitor Careem have unexpectedly suspended services in Abu Dhabi.
San Francisco-based Uber said the move was temporary and that its “goal is to resume operations as soon as possible.” It declined to say what prompted the suspension.
A state-backed daily reported that rival car service Careem also halted services in the capital starting Saturday afternoon.
In a statement to The Associated Press, Careem said the suspension came after some of its cars were stopped by authorities.
“Until we have further clarification on the situation, Careem has decided to temporarily limit services in Abu Dhabi to avoid any inconvenience this may cause,” the company said.
Officials at the Abu Dhabi Department of Transport could not be reached for comment.
The companies’ operations in Dubai, which has a different transport regulator, were unaffected by the suspension.

Source: Arab News