{"id":4383,"date":"2018-11-15T04:07:01","date_gmt":"2018-11-15T04:07:01","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/uber-loss-tops-1bn-loss-ahead-of-planned-ipo-next-year\/"},"modified":"2018-11-15T04:07:01","modified_gmt":"2018-11-15T04:07:01","slug":"uber-loss-tops-1bn-loss-ahead-of-planned-ipo-next-year","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/uber-loss-tops-1bn-loss-ahead-of-planned-ipo-next-year\/","title":{"rendered":"Uber loss tops $1bn loss ahead of planned IPO next year"},"content":{"rendered":"\n
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Uber posted a loss of $1.07bn (\u00a3821m) in the three months to September, as the ride-sharing firm prepares for a public stock offering next year. <\/p>\n

The US company’s net losses widened sharply on a quarterly basis as revenues rose only slightly.<\/p>\n

Uber was recently valued at $72bn, making it one of the most valuable privately held firms in the world.<\/p>\n

But it is under pressure to become more profitable for a planned offering of its shares to the public next year.<\/p>\n

Net losses widened sharply to $1.07bn from $891m, figures from Uber showed, as revenues and bookings rose only slightly.<\/p>\n

But losses were down 27% compared to the same period last year, according to Reuters.<\/p>\n

“We had another strong quarter for a business of our size and global scope,” Uber chief financial officer Nelson Chai said in a statement.<\/p>\n

“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 where we continue to solidify our leadership position.”<\/p>\n