Uber loss swells to US$4.5b in 2017

New Straits Times - - BUSINESS / WORLD -

SAN FRAN­CISCO: Uber on Tues­day re­vealed that its loss last year swelled de­spite signs in the fi­nal three months that it was stem­ming the red ink. Fig­ures re­ported by The In­for­ma­tion and con­firmed by AFP showed that Uber’s loss last year grew to US$4.5 bil­lion (RM17.6 bil­lion) from US$2.8 bil­lion a year ear­lier. How­ever, Uber lost US$1.1 bil­lion in the fi­nal quar­ter of last year com­pared with US$1.46 bil­lion in the pre­ceed­ing quar­ter as rev­enue rose. Net rev­enue grew to US$2.22 bil­lion from US$1.38 bil­lion in the same quar­ter-over-quar­ter com­par­i­son.

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