May 31, 2017

Uber finance chief to leave in July

Jeff Chiu / AP

Uber's executive exodus continues, as head of finance Gautam Gupta is leaving in July, the company told the Wall Street Journal on Wednesday and later confirmed to Axios. Gupta will be joining an undisclosed San Francisco startup where he'll be COO, Axios has learned.

Uber also revealed its latest quarterly financials (which it also reported to investors) on Thursday: It brought in $3.4 billion in revenue in the first quarter, up 18% from the fourth quarter. Its losses (not including employee stock and other items) also shrunk to $708 million, down from $991 million three months earlier. Its non-GAAP revenue for the quarter, which is adjusted for fares from carpool rides, is much lower at $1.5 billon, up from $1.4 billion.

Help wanted: Though Gupta has been Uber's highest ranking finance executive, he's not the company's CFO—a position that has been vacant since Brent Callinicos left in 2015. The company is now launching a CFO search, and will be looking for candidates with public-company experience as it eyes an eventual IPO, according to a source familiar with the efforts.

Mass exodus: Gupta is only the latest Uber executive and senior employee to depart in the last few months, though a the company says his departure is unrelated to its recent challenges, including a lawsuit and allegations of sexism. Others include its head of PR, its president of ride-sharing, its VP of global vehicle programs, and several self-driving car employees, among others.

The story has been updated with additional information about Gupta's departure and Uber's disclosure of financials and CFO search.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 1,094,068 — Total deaths: 58,773 — Total recoveries: 225,519Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 273,880 — Total deaths: 7,077 — Total recoveries: 9,521Map.
  3. Public health latest: The CDC is recommending Americans wear face coverings in public to help stop the spread of the coronavirus.
  4. 2020 latest: Wisconsin's governor called for a last-minute primary election delay. "I think a lot of people cheat with mail-in voting," President Trump said on the 2020 election, as more states hold primaries by mail.
  5. Business updates: America's small business bailout is off to a bad start. The DOT is urging airlines to refund passengers due to canceled or rescheduled flights, but won't take action against airlines that provide vouchers or credits.
  6. Oil latest: The amount of gas American drivers are consuming dropped to levels not seen in more than 25 years, government data shows. Trump is calling on the Energy Department to find more places to store oil.
  7. Tech updates: Twitter will allow ads containing references to the coronavirus under certain use cases.
  8. U.S.S. Theodore Roosevelt: Senators call for independent investigation into firing of Navy captain.
  9. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Government will cover uninsured patients' coronavirus treatment

Azar at Friday's briefing. Photo: Win McNamee/Getty Images

The federal government will cover the costs of coronavirus treatment for the uninsured, Health and Human Services Secretary Alex Azar said at a White House briefing Friday.

How it works: The money will come from a $100 billion pot set aside for the health care industry in the most recent stimulus bill. Providers will be paid the same rates they get for treating Medicare patients, and as a condition of those payments, they won't be allowed to bill patients for care that isn't covered.

More states issue stay-at-home orders as coronavirus crisis escalates

Data: Axios reporting; Map: Danielle Alberti/Axios

Alabama Gov. Kay Ivey issued a stay-at-home order on Friday as the novel coronavirus pandemic persists. The order goes into effect Saturday at 5 p.m. and will remain in place through April 30. Missouri Gov. Mike Parson also issued a statewide social distancing order on Friday.

The big picture: In a matter of weeks, the number of states that issued orders nearly quadrupled, affecting almost 300 million Americans.

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