Uber loses $1.1B in investments
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.