Uber posted its largest-ever quarterly loss -- $5.2 billion -- as it faces increasing competition and investor scrutiny as a publicly-traded company.
Uber posted its largest-ever quarterly loss -- $5.2 billion -- this week, as it faces increasing competition and investor scrutiny as a publicly-traded company.
The company also reported slowing growth, as overall revenue rose 14% to $3.2 billion, the smallest quarterly increase on record. "We'll continue to innovate in the shared-ride space with exciting new products such as nonstop shared rides, much more sophisticated pricing algorithms and some pretty interesting innovations coming up in the second half of the year," Khosrowshahi said.
Still the losses renewed investor concerns about the company's ability to become profitable, since rival Lyft posted better-than-expected earnings a day before Uber's report.
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