Since what was one of the biggest tech IPOs, ride-sharing company Uber continues to grow, but they are losing money at an incredible rate.
Q1 2018 aside (a one-time gain of $2.9 billion from selling/merging its Southeast Asia and Russian businesses), every quarter has seen net losses posted - Q2 2019 underlined this trend to a staggering degree.
The latest figures reveal Q3 2019 to be no exception, either. Despite revenue beating analysts’ expectations, Uber registered another net loss for the quarter.
And, although not as extreme as that of the previous 3-month period - caused chiefly by “$3.9 billion of stock-based compensation expenses...in connection with our initial public offering” - the company's consistent ability to lose money to the tune of $1 billion per quarter shows no sign of budging.
This article and chart originally appeared on the blog of Statista, a data firm, and is republished with permission.