Uber loss tops $1b as it seeks to diversify

Ride-share company Uber yesterday said that its net loss topped a billion dollars in the recently ended quarter as it pumped money into bikes, scooters, freight and food delivery.

While a private company, Uber has taken to sharing quarterly earnings figures as it prepares for a keenly-anticipated debut on the stock market next year.

Figures released by Uber showed the San Francisco-based company lost $1.1 billion on revenue that grew to $3 billion, while overall bookings notched up to $12.7 billion.

"We had another strong quarter for a business of our size and global scope," Uber chief financial officer Nelson Chai said in a statement shared along with the earnings figures.

"As we look ahead to an IPO and beyond, we are investing in future growth across our platform, including in food, freight, electric bikes and scooters, and high-potential markets in India and the Middle East."

Uber loss tops $1b as it seeks to diversify

Ride-share company Uber yesterday said that its net loss topped a billion dollars in the recently ended quarter as it pumped money into bikes, scooters, freight and food delivery. While a private company, Uber has taken to sharing quarterly earnings figures as it prepares for a keenly-anticipated debut on the stock market next year. Figures released by Uber showed the San Francisco-based company lost $1.1 billion on revenue that grew to $3 billion, while overall bookings notched up to $12.7 billion. We had another strong quarter for a business of our size and global scope, Uber chief financial officer Nelson Chai said in a statement shared along with the earnings figures. As we look ahead to an IPO and beyond, we are investing in future growth across our platform, including in food, freight, electric bikes and scooters, and high-potential markets in India and the Middle East.