Uber’s loss jumped 61 percent to $4.5 billion in 2017

Earnings


Adriano Machado | Reuters

The chief executive of Uber Technologies, Dara Khosrowshahi.

Uber has just revealed its fourth-quarter financial results, which show that the ride-hailing company’s loss jumped 61 percent in 2017.

The company lost $4.5 billion last year, up from $2.8 billion in 2016, according to figures first reported by The Information and confirmed by CNBC on Tuesday.

However, in the fourth quarter, which was CEO Dara Khosrowshahi’s first full period at the helm, Uber’s loss narrowed to $1.1 billion from $1.46 billion in the third quarter. Revenue during that stretched climbed about 14 percent to $11.1 billion from $9 billion.

Uber ended the year with about $6 billion in cash, 13 percent below the prior year’s total, according to Bloomberg.

Uber is not required to publicly report its financial results, but has begun disclosing some figures in recent months.

–Thomson Reuters contributed to this report.



Source link

Products You May Like

Articles You May Like

Five ways people try to cheat on their taxes
If you own these funds, you are an investor in the major gunmakers
Pet products, a growing industry: pet company CEO
Michael Dell purchased $100 million penthouse that broke Manhattan records
NASA test assesses personality of Trump, Zuckerberg, Musk

Leave a Reply

Your email address will not be published. Required fields are marked *