Uber Loses Another $1 Billion. CFO Calls 2019 An ‘Investment Year.’ - Forbes

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Uber Loses Another $1 Billion. CFO Calls 2019 An ‘Investment Year.’  Forbes

Uber is still a money-losing service, and its growth is still slowing. In its first quarterly results since its IPO, Uber reported a $1.01 billion loss for the first quarter of 2019. It reached $3.1 billion in revenue, a 20% increase from the year-ago quarter, but slower than the 25% growth it had recorded in the previous quarter. “2019 will be an investment year,” said Nelson Chai, Uber’s chief financial officer, said in a conference call with analysts and journalists. The numbers didn’t come as a shock—Uber had previously disclosed in SEC filings that it had expected a net loss between $1...

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