Briefing

    Uber loses US$1.01 billion in its first quarterly earnings since going public

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    That’s compared to its US$3.75-billion profit in the same quarter in 2018. Uber made US$2.76 billion in adjusted revenue for this quarter, a 14 per cent increase, slightly surpassed analysts’ expectations of US$2.75 billion. Revenues for its primary business, ride-sharing, grew nine per cent from the year previous, while revenues for its meal-delivery service, Uber Eats, nearly doubled. Uber’s loss this quarter was bigger than that of Lyft, its main rival, in all of 2018. (Bloomberg)

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