Uber Tech­nolo­gies Q4 loss nar­rows to $1.1 bil­lion

Business World - - FRONT PAGE -

UBER TECH­NOLO­GIES, INC. nar­rowed its fourth- quar­ter loss to $1.1 bil­lion from a loss of $1.46 bil­lion in the pre­vi­ous quar­ter, a per­son fa­mil­iar with the mat­ter told Reuters. The ride-hail­ing com­pany’s quar­terly rev­enue rose 11.8% to $2.2 bil­lion from its pre­vi­ous quar­ter, the source said.

LOS AN­GE­LES — Uber Tech­nolo­gies, Inc. nar­rowed its fourth-quar­ter loss to $1.1 bil­lion from a loss of $1.46 bil­lion in the pre­vi­ous quar­ter, a per­son fa­mil­iar with the mat­ter told Reuters.

The ride-hail­ing com­pany’s quar­terly rev­enue rose 11.8% to $2.2 bil­lion from its pre­vi­ous quar­ter, the source said.

Uber has gone on to raise more than $14 bil­lion in new fund­ing and last month closed a deal with SoftBank Group Corp. in which the Ja­panese con­glom­er­ate, along with other in­vestors, took about a 17.5% stake in the com­pany.

Sil­i­con Val­ley- based Uber’s quar­terly gross book­ings rose 14% to $11.1 bil­lion from the third quar­ter, the per­son said.

The com­pany had pre­vi­ously re­ported third-quar­ter net loss of $ 1.46 bil­lion on net rev­enue of $ 2 bil­lion. Uber had gross book­ings of $ 9.7 bil­lion in the pre­vi­ous quar­ter.

Uber said last week that it would pay $ 245 mil­lion worth of its own shares to Al­pha­bet, Inc.’s Waymo self­driv­ing ve­hi­cle unit to set­tle a le­gal dis­pute over trade se­crets, al­low­ing Uber’s chief ex­ec­u­tive to move past one of the com­pany’s most bruis­ing pub­lic con­tro­ver­sies.

REUTERS

AN UBER sign is seen in a car in New York, New York, US on June 30, 2015.

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