Uber’s net loss widens to $4.5B
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.