Uber faces $5.24 bn loss in the last 3 months, the largest-ever quarterly loss
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The ride-hailing service Uber faces $5.24 loss in the last 3 months, the largest-ever quarterly loss because of which the shares slipped 10%. The latest loss was worse than analysts had expected. Uber's revenues rose 14% to $3.17 bn in the 2nd quarter, the smallest % on record. The company's share price that rose to 8% during the day, fell over 10% in after-hours trading. It's cutting 400 jobs from marketing team last month.