Uber’s business continues to grow, but so do its losses.
The firm lost $1.1bn (£851m) in the last three months of 2019, even as revenue jumped 37% to $4bn and the number of trips made on its platform rose by 28%.
Spending to expand its Uber Eats food delivery business hurt the firm’s bottom line.
Uber boss Dara Khosrowshahi said he was “gratified” with the progress the firm is making toward profitability.
Adjusted for items such as taxes, the core “ride” part of the business turned a profit in the last three months of last year.
Tired of cleaning up after take-out or getting hangry waiting at your table in restaurants? Well Uber Eats is barging into the dine-in business. A new option in some cities lets you order your food ahead of time, go to the restaurant, then sit down inside to eat, a tipster from competing dine-in app Allset tells us. We tested it, and Uber Eats Dine-In even waives the standard Uber delivery and service fees.