‘The Information’ reports this morning (my bold)
Uber said its mobility division (the ride-hailing business most people know the company for) brought in $3.8 billion in revenue in the most recent quarter, growing 73%. But baked into that number is $1.1 billion flowing from a change earlier this year that prompted Uber to start recording all the fares it gets in the U.K. as revenue, instead of just the take rates remaining after the company pays its drivers.
I assume this is because Uber lost the battle in the courts about whether the drivers worked for them or were independent in the UK. So - if they work for them, then the whole ride is revenue. BUT - there will now be a flip side to that, in that there are now a whole lot of expenses on the other side that need to be taken out.
Is there an accountant in the house that is tracking the shenanigans that is - and seemingly always will be - ‘Uber’.