Uber is curbing its losses and growing its business while it searches for a new CEO

Uber’s business continues to grow as it licks its wounds from a tumultuous beginning to 2017. As Uber searches for a new CEO, the company provided a look into its financial performance indicating it saw a substantial increase in its gross bookings in the second quarter of the year.

Uber raked in $8.7 billion in gross bookings, according to the company. That’s a 17 percent increase from the previous quarter and an 102 percent increase year over year. The company also saw a 150 percent increase in the number of global trips year over year.

But the ride-hail company, valued at approximately $68 billion, is still losing more than half a billion dollars a quarter. In the second quarter, it lost $645 million, compared to $708 million in the first quarter.

Uber, facing myriad lawsuits, also has $6.6 billion on hand and says it has an adjusted net revenue of $1.75 billion up from $1.5 billion in the first quarter.

Axios first reported the numbers.

The privately held company released the numbers on the heels of four mutual funds writing down their investments by as much as 15 percent, as the Wall Street Journal reported. Vanguard Group, Principal and Hartford Funds marked down their investment from $48.77 to $41.46. Fidelity, however, has maintained its valuation of the company’s stock.

Uber is in the midst of searching for a replacement for its ousted CEO, Travis Kalanick. But that process has not been without its troubles. Kalanick, for his part, had been telling people he planned to return to the company and is now in embroiled in a messy legal dispute with one of Uber’s biggest investors, Benchmark.

Fortunately, the company’s board is expected to vote on a new CEO within two weeks; former General Electric chairman Jeff Immelt has become the front-runner.

In the meantime, Uber has promoted some of the top executives running the company in the interim to vice president. That includes Rachel Holt, Andrew Mac and Pierre-Dimitri Gore-Coty who are former regional heads of the U.S. and Canada; Asia Pacific and Latin America; and the EMEA respectively. The new title simply formalizes the roles these young executives took on when Kalanick resigned.

This article originally appeared on Recode.net.

Will you support Vox’s explanatory journalism?

Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:

First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.

Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.

So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)

If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.

One-Time Monthly Annual

$5/month

$10/month

$25/month

$50/month

Other

$

Yes, I'll give $5/month

Yes, I'll give $5/month

We accept credit card, Apple Pay, and Google Pay. You can also contribute via