Uber for three months received more than $1 billion net loss

Uber за три месяца получила свыше $1 млрд чистого убытка

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.

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