Uber have dramatically increased the cost of marketing and sales.
The Company Uber Technologies Inc., providing services for taxi and food delivery, has completed the first quarter of 2019 with a net loss and increased operating loss of 2.2 times. It is reported online edition of the Chronicle.info with reference to Interfax-Ukraine.
The net loss for Uber in January-March amounted to $1.01 billion, against a net profit of $3.75 bn over the same period a year earlier.
The company noted that a good indicator 2018 is largely due to the consolidation of operations in Russia and South-East Asia with other companies. These transactions actually represented the sale of assets and brought the company about $3 billion.
Uber operating loss in the first quarter of this year rose to $1.03 billion compared with $478 million a year earlier.
Revenue jumped 20% to $3.1 billion against $2,58 billion
Total orders increased by 34% to $14,65 billion Thus, the growth rate of this indicator slowed from 37% in the fourth quarter of 2018.
The costs of the company jumped 35% to $4.13 billion, including due to the increase in expenses for sales and marketing at 54%.
The number of monthly active users of Uber, the Uber app including Eats, increased to 93 million compared to 70 million in the January-March 2018.
Adjusted revenue Uber Eats in the last quarter was $239 million versus $183 million for the same period a year earlier.
Stock quotes Uber grew by 1.8% in electronic trading on 30 may. The capitalization of the company after the IPO, on 10 may, has fallen by about 12%.
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Uber is an international technology company that develops mobile services on call car with a personal driver. The company provides services in more than 700 cities in 70 countries, including Ukraine.