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Uber Lost $1 Billion In First Public Quarter

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Uber Lost $1 Billion In First Public Quarter

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.

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Uber Lost $1 Billion In First Public Quarter

A MAY 10, 2019, FILE PHOTO TUESDAY, JAN.

12, 2016, FILE PHOTO




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