Uber Lost $1 Billion In First Public Quarter
Reuters reports Uber Technologies Inc reported a $1 billion loss on Thursday in its first quarterly report as a public company.
The loss coincided with a 20 percent rise in revenue.
Uber had forecasted both the revenue and loss.
Its share price is currently trading more than 10 percent below its IPO price of $45.
Revenue was up from the previous quarter.
The ride-hailing company said its monthly active users rose to 93 million globally, from 91 million at the end of the fourth quarter.