Uber loses $1.1B in in­vest­ments

Antelope Valley Press - - BUSINESS -

NEW YORK — Uber is still los­ing money as it in­vests in its food de­liv­ery busi­ness and de­vel­op­ing tech­nol­ogy for driver­less cars. But rev­enue for its rides busi­ness nearly tripled in the fi­nal three months of last year as the com­pany picked up more pas­sen­gers around the world. Uber says it ex­pects to turn a profit ear­lier than it ex­pected. The ride-hail­ing gi­ant lost $1.1 bil­lion in the fourth quar­ter of 2019, about 24% more money than the same time last year. Uber brought in $4.1 bil­lion in rev­enue, up 37% from a year ago.

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