The Wall Street Journal: Uber narrows losses to $1.1 billion as fourth-quarter bookings rise

Uber Technologies Inc. continued to boost ridership and revenue throughout last year, despite a punishing stretch that included a sexual harassment scandal, the resignation of its longtime chief and a blockbuster lawsuit from its primary rival in self-driving vehicles.

The San Francisco company said revenue rose 12% in the fourth quarter to $2.26 billion from three months earlier while its loss narrowed to $1.1 billion, according to a detailed financial statement reviewed by The Wall Street Journal on Tuesday.

The privately held company isn’t obligated to disclose financial results publicly, and didn’t provide year-ago comparisons. Uber did provide results for all four quarters of the year, showing sales rising at least 10% between each three-month period.

Gross bookings, the amount of money Uber books before taking a roughly 25% commission per ride, was $11.06 billion, up 14% from the third quarter, according to the statements. This total, which includes the core ride-hailing as well as prepared food delivery and freight services, was up about 60% from a year-ago figure of $6.9 billion reported last year by the Journal. 

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

California employers in a bind over immigration enforcement.

Amazon’s latest ambition: To be a major hospital supplier.

Filed in: Top News Tags: 

You might like:

The Wall Street Journal: Stacey Abrams eyes history after win in Georgia gubernatorial primary The Wall Street Journal: Stacey Abrams eyes history after win in Georgia gubernatorial primary
Asia Markets: Nikkei leads Asian-market losses as investors’ geopolitical worries grow Asia Markets: Nikkei leads Asian-market losses as investors’ geopolitical worries grow
The Wall Street Journal: Walmart to buy SoftBank’s stake in India’s Flipkart The Wall Street Journal: Walmart to buy SoftBank’s stake in India’s Flipkart
The Wall Street Journal: Wynn Resorts’ executive compensation plan rejected by shareholders The Wall Street Journal: Wynn Resorts’ executive compensation plan rejected by shareholders
Trump hints at more tax cuts to be unveiled before November Trump hints at more tax cuts to be unveiled before November
One New York couple asked a court to help them evict their 30-year-old son One New York couple asked a court to help them evict their 30-year-old son
The Wall Street Journal: Israeli firm partnered with Cambridge Analytica to win U.S. government contracts The Wall Street Journal: Israeli firm partnered with Cambridge Analytica to win U.S. government contracts
Key Words: Is voting in 2018 really as important as in 2016? Trump’s not so sure Key Words: Is voting in 2018 really as important as in 2016? Trump’s not so sure

Leave a Reply

Submit Comment
© 2018 Stock Investors News. All rights reserved. XHTML / CSS Valid.