Uber's IPO Filing Shows Eye-Wateringly High Losses For 2018

Credit: Wochit
Published on April 11, 2019 - Duration: 00:58s

Uber's IPO Filing Shows Eye-Wateringly High Losses For 2018

The juggernaut known as Uber is notorious for disrupting the fiercely protected taxicab industry worldwide.

But according to CNN, it's not only suffering from endless PR black eyes, it's also losing money hand over fist.

And Uber, as well as Lyft, faces ongoing scrutiny over safety and the steps it is taking to protect passengers.

Uber lost $1.8 billion in 2018.

It's an unprecedented sum for a company about to go public.

However, the filing noted its revenue was up 42% in 2018 to $11.3 billion.

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