Uber Lost $1 Billion USD in 3rd Quarter

Despite a 38% revenue rise.

By
Automotive
8,128 Hypes 7 Comments

Uber has undertaken several new ventures over this year and, according to its recently released 3rd quarter report, it’s had an effect on the bottom line. The company reports a $1.07 billion USD loss due to its various investments. However the company also reports a 38% rise in revenue, reaching $2.95 billion USD.

But even that growth is down 51% from the previous quarter, showing that, overall, the company’s growth had slowed. The company also earned $12.7 billon USD from gross bookings, up 34% from the previous year. The news comes before the company’s IPO next year, which has seen the company valued at as much as $120 billion USD.

In related news, Uber could be delivering food by drone by 2021.

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Source
engadget

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