Uber’s net loss widens to $4.5B

Boston Herald - - OPINION -

Ride-hail­ing gi­ant Uber's full-year net loss widened to $4.5 bil­lion in 2017 as the com­pany en­dured a tu­mul­tuous year that in­cluded mul­ti­ple scan­dals, a law­suit al­leg­ing the theft of trade se­crets and the re­place­ment of its CEO.

The full-year loss grew from $2.8 bil­lion in 2016, a year with re­sults skewed by a gain from the sale of Uber's China busi­ness. Uber also said its U.S. ride-hail­ing mar­ket share fell from 82 per­cent at the start of last year to 70 per­cent in the fourth quar­ter.

For the fourth quar­ter, Uber's net loss was $1.1 bil­lion, down from $1.46 bil­lion lost in the third quar­ter. Book­ings from fares rose 14 per­cent to just over $11 bil­lion for the quar­ter.

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