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Photo: Jaap Arriens/NurPhoto via Getty Images

Despite Uber's brutal year of scandals and turmoil, the company is generating more revenue and narrowing its losses. Its net revenue for the quarter was $2.2 billion, up from $1.4 billion in the year ago quarter, while Uber narrowed its quarterly loss to $1.1 billion.

Why it matters: With its hopes to go public next year, Uber has to prove that it has a business that can exist without constant venture capital infusions.

More:

  • It posted $4.5 billion in losses for the year on about $7.5 billion in sales.
  • Gross bookings in the fourth quarter (the total amount customers paid in fares) rose to more than $11 billion. For the year, total gross bookings were $37 billion.
  • Its UberEats food delivery service has grown to about 10% of bookings, or $1.1 billion for the quarter.

Yes, but: It did increase its spend on driver bonuses and rider promotions.

Go deeper

Trump bump: NYT and WaPo digital subscriptions tripled since 2016

Data: Axios reporting and public filings; Chart: Axios Visuals

The New York Times and The Washington Post have very different strategies for building the subscription news company of the future.

The big picture: Sources tell Axios that the Post is nearing 3 million digital subscribers, a 50% year-over-year growth in subscriptions and more than 3x the number of digital-only subscribers it had in 2016. The New York Times now has more than 6 million digital-only subscribers, nearly 3x its number from 2016.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Biden's emerging climate orbit

Photo illustration: Aïda Amer/Axios. Photo: Win McNamee/Getty Images

As of Tuesday morning, we know a lot more about President-elect Joe Biden climate personnel orbit, even as picks for agencies like EPA and DOE are outstanding, so here are a few early conclusions.

Why it matters: They're the highest-level names yet announced who will have a role in what Biden is promising will be a far-reaching climate and energy agenda.

Janet Yellen is back

Photo illustration: Sarah Grillo/Axios. Photo: Hannelore Foerster/Getty Images

A face familiar to Wall Street is back as a central player that this time will need to steer the country out of a deep economic crisis.

Driving the news: President-elect Joe Biden is preparing to nominate former Fed chair Janet Yellen to be Treasury secretary.