The Presidential Daily Brief


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    Uber’s Revenue Defies Turmoil

    Damn the torpedoes, full speed ahead. Despite months of near non-stop scandals hitting Uber, net revenue for the ride-sharing app rose 17 percent to $1.75 billion in the second quarter, narrowing losses by 9 percent to $645 million. The gains come as Uber searches for a new CEO following the forced resignation of scandal-tainted co-founder Travis Kalanick, who’s battling to retain control. But the roadblocks may still have opened doors for competitors, such as Lyft, whose market share has grown, and China’s Didi Chuxing, which raised $5 billion this year.

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