> faces brutal competition globally

There is no competition to Uber in Toronto. It's so cheap and accessible it's almost competing with public transit at this point.

They are facing a ton of competition in their 3 largest markets. USA (Lyft 1bn+ funding), China (Didi 3bn+ funding) & Ola (couple 100mm's).

plus the impending lawsuits for wrongly classifying their employees as contractors... thats going to take years to play out and could hit their profitability really hard.

Ola?

IIRC it's OlaCab, in India.

That isn't exactly a counter to the OP's point. Just because they don't have competition in one global location does not mean they do not have global competition.

Depends on your interpretation of the word globally. I took it to mean 'everywhere' or 'pertaining to the whole world' like 'global variable'.

*51bn company.