Uber continues to grow, as bookings increase, despite ongoing turmoil

Uber saw its bookings double in the second quarter to $8.7bn according to Uber's latest results published by US website Axios

It lost $991 million in the fourth quarter of previous year.

USA vehicle hailing giant Uber reported on Wednesday that its gross bookings rose 17 per cent to US$8.7 billion in the second quarter, as the company was still under the shadow of series of scandals earlier this year, China's Xinhua news agency reported. That's a 17 percent increase from the previous quarter and an 102 percent increase year over year.

Presuming Uber's revenue reaches $8 billion this year and it loses well over $1 billion, the company faces significant competition from quarters as diverse as Lyft to traditional vehicle manufacturers. The loss figures, allowing for earnings before interest, taxes, depreciation and amortization, came in at $534 million, down from $598 million in the quarter before. The charges include negligence, injury accidents as well as a lawsuit against Uber's ban on carrying firearms and more.

The San Francisco company reported a $645 million loss for the second quarter, narrowing from $708 million in the first quarter. Earlier this year, the company faced several bouts of widespread public criticism during the #deleteUber movement, when more than 200,000 users deleted their accounts on the app.

And while Uber's board is seeking a new CEO to replace Travis Kalanick, who resigned in late June, early Uber investor Benchmark Capital is suing the co-founder for the return of three board seats it says he agreed to relinquish. And rival Lyft has posted strong growth as it fights to take market share from Uber.

Following Uber's scandal-ridden year, four mutual fund firms have made a decision to trim their investments in the company, suggesting that months of controversies were affecting its $68 billion value and that Uber really needs to solve its myriad of problems.

Since 2010, the ride-hailing company has raised over $15 billion from numerous investors.

An executive committee is steering Uber as it searches for a CEO. For instance, the company is mulling cuts to its USA car-leasing business , amid costs that were thousands of dollars higher than expected for each vehicle.

News site Axios first reported Uber's second-quarter results.

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