Uber: higher losses frowned on by market

(CercleFinance.com) - Uber Technologies announced on Thursday night that it intends to continue to invest "aggressively" in its development, despite a sevenfold increase in its losses in the second quarter.


Investors frowned on this prospect on the New York Stock Exchange, where the stock fell more than 8% in early trading.

The San Francisco based group's operating loss increased to nearly 5.5 billion dollars from April to June, compared with a loss of 739 million dollars a year ago.

Meanwhile, its net loss reached 5.2 billion dollars, or 4.72 dollars per share, compared with a loss of “just” 878 million dollars, or 2.01 dollars per share, in Q2.

Uber's market capitalization has shrunk by more than 12% since its IPO in May.


Copyright (c) 2019 CercleFinance.com. All rights reserved.