Uber is suffering billions of dollars in damages from coronavirus

The SARS-CoV-2 pandemic has forced the American taxi service to cancel its business forecast for this year. Due to restrictive measures caused by the coronavirus, the number of Uber users has fallen sharply.

American taxi service Uber due to coronavirus pandemic SARS-CoV-2 is suffering billions of losses and is forced to cancel its business forecast for 2020. It is currently impossible to predict what impact the pandemic will have on Uber’s business performance this year, Uber said on the night of Friday, April 17.

So far Uber has predicted net losses ranging from $1.25 to $1.45 billion. Last year’s minus was $2.7 billion. Due to curfews, closed stores, factories and other quarantine measures, demand for Uber services around the world has declined markedly. The company plans to announce the financial impact of the pandemic on Uber for the first quarter of 2020 May 7.

At the same time, it is already clear that Uber will be forced to reduce its minority interests in various companies for a total amount of 1.9-2.2 billion dollars. Uber owns minority stakes in various taxi and food delivery services of such companies as Grab, Yandex or Didi. Uber has not reported which of these companies will be affected by the cuts. At the end of 2019, the total value of Uber’s participation in the various companies was estimated at almost $ 12 billion.