Uber brought in $2.8 billion in revenue in the second quarter of 2018, but ultimately lost $891 million thanks to increased spending by the ride-hailing company, according to Bloomberg.
Uber, which is privately held but chooses to report its quarterly earnings to investors and the public, is seeing some growing pains from its massive effort to scale globally. It’s cash-burn rate wasn’t as bad as the same period last year, when the company reported losing roughly $1.1 billion. But it’s a big drop from the previous quarter, when the company posted a rare profit thanks to its decision to sell its businesses in southeast Asia and Russia to local rivals.
Uber is planning for an initial public…
https://www.theverge.com/2018/8/15/17693834/uber-revenue-loss-earnings-q2-2018