| 1:42 AM EST

Uber’s Quarterly Loss Deepenens

Uber Technologies Inc. says its third-quarter revenue jumped 30%, but net losses climbed 18%.

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Uber Technologies Inc. says its third-quarter revenue jumped 30%, but net losses climbed 18%.

The ride-hailing service reports its revenue in July-September rose to $3.8 billion from $2.9 billion. But its net loss deepened to $1.2 billion from $986 million.

Uber notes that revenue from its three main revenue streams—rides, food delivery and freight—all grew year on year. But the pace underwhelmed analysts. Yesterday the company’s share price closed at $31.08, down 29 cents, compared with the $45 initial public offering price in May.

Related Topics

RELATED CONTENT

  • Designing the 2019 Ram 1500

    Ram Truck chief exterior designer Joe Dehner talks about how they’ve developed the all-new pickup. “We’ve been building trucks for over 100 years,” he says. “Best I could come up with is that this is our 15th-generation truck.”  

  • How General Motors Develops World-Class Propulsion Systems

    Dan Nicholson is vice president of General Motors Global Propulsion Systems, the organization that had been “GM Powertrain” for 24 years.

  • RAV4: 4 Things About the Fourth Generation

    Although the RAV4 has plenty of heritage in the small crossover segment, competition has gotten a whole lot tougher, so Toyota has made significant changes to the fourth-generation model.