FILE PHOTO: The Uber logo is displayed on a mobile phone in this picture illustration taken November 25, 2019. REUTERS/Hannah McKay/Illustration
(Reuters) – Uber Technologies Inc said on Thursday it expects an impairment charge of up to $2.2 billion in the first quarter due to the coronavirus outbreak and revenue to decline by $17 million to $22 million in the quarter.
Last month, the ride-hailing company promised 10 million free rides and food deliveries to healthcare workers, seniors, and people in need, during the period of lockdowns put in place to stem the spread of the coronavirus.
The company withdrew here its 2020 forecast for gross bookings, adjusted net revenue and adjusted EBITDA, and said the initiatives taken in response to the outbreak, including financial assistance for drivers and delivery people, would be accounted into its first- and second-quarter revenue.
It expects GAAP revenue to fall by about $17 million to $22 million in the first quarter, and by about $60…
Source Reuters Tech News
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