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Ride-share company Uber on Wednesday said that its net loss topped a billion dollars in the recently ended quarter as it pumped money into bikes, scooters, freight and food delivery.
While a private company, Uber has taken to sharing quarterly earnings figures as it prepares for a keenly-anticipated debut on the stock market next year.
Figures - Uber - San - Company - Revenue
Figures released by Uber showed the San Francisco-based company lost $1.1 billion on revenue that grew to $3 billion, while overall bookings notched up to $12.7 billion.
"We had another strong quarter for a business of our size and global scope," Uber chief financial officer Nelson Chai said in a statement shared along with the earnings figures.
IPO - Growth - Platform - Food - Freight
"As we look ahead to an IPO and beyond, we are investing in future growth across our platform, including in food, freight, electric bikes and scooters, and high-potential markets in India and the Middle East."
In the previous quarter, the smartphone-summoned ride service reported it lost $891 million on net revenue of $2.8 billion, with overall bookings of $12 billion.
Uber - Valuation - Share - Offering - Biggest-ever
Uber is eyeing a valuation above $100 billion for its share offering due in 2019, which would be the biggest-ever in the tech sector, sources familiar with the plan said last month.
The sources told AFP the global ridesharing...
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