Uber London increased revenue and profitability before its licence was revoked
London — Uber Technologies increased revenue, headcount and profitability for its London operations hub before its licence was revoked last month in a surprise move by regulators. Revenue for Uber London Ltd rose to £36.9m ($49m) in 2016, up 59% on the previous year, according to its latest UK company accounts. Profit before tax climbed 65% to £3m, while the average number of monthly employees grew to 199, up 90%. Uber’s licence was revoked last month by Transport for London, a decision Uber intends to appeal, during which process the US company is allowed to operate. Its London operation appeared to be but a sliver of its global operation. The company generated $1.75bn in adjusted net revenue in the second quarter of 2017, up 17% from the prior quarter. Uber narrowed losses by 9% to $645m, based on financial results provided by the company.
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