Uber's latest financial results reveal slower growth

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While Uber is gearing up for an initial public offering later this year, its latest self-reported financial results have revealed a slowdown in sales.

Uber had sales of $ 3 billion in the fourth quarter, which means sales increased only 25% in Q4, compared to 38% growth in the third quarter and 70% in & nbsp;the first quarter.

This continued slowdown in sales growth could sound the alarm for Wall Street as Uber heads for an IPO that could worth up to $ 120 billion, or almost double its valuation of $ 76 billion in the last round of fundraising.

Despite slowing growth, Nelson Chai, chief financial officer, said that Uber 's year 2018 had been the strongest.

"In 2018, our ridesharing business has maintained its leadership in all the areas we serve, Uber Freight has gained popularity in the United States, JUMP bikes and electric motorcycles are en route in more than a dozen cities and we believe that Uber Eats has become the largest online food delivery business outside of China, based on gross bookings, "he said in a statement.

Although Uber did not reveal Eats in his latest financial report, Khosrowshahi already told to Forbes that she was on track to distribute $ 10 billion worth of food to the world this year. Uber suffered a 30% reduction in sales, plus shipping costs, which would allow it to generate at least $ 1 billion in Eats revenue this year.

This booming business is important because Uber is not the only carpool company to head to the public market: Lyft, valued at around $ 15 billion, is also expected to be floated later this year.

At a better place in his financial report, Uber has slightly reduced his losses. The company lost $ 865 million in the fourth quarter, down from a loss of $ 1.07 billion in the third quarter. Adjusted losses for the full year were $ 1.8 billion, an improvement of 15% from $ 2.2 billion in 2017.

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While Uber is gearing up for an initial public offering later this year, its latest self-reported financial results have revealed a slowdown in sales.

Uber achieved a turnover of $ 3 billion in the fourth quarter, which means that its sales grew only 25% in the fourth quarter, compared to a 38% growth in the third quarter and 70% in the first quarter.

This continued slowdown in sales growth could sound the alarm for Wall Street as Uber heads for an IPO of up to $ 120 billion, nearly double its $ 76 billion valuation. at his last fundraiser.

Despite slowing growth, Nelson Chai, chief financial officer, said that Uber 's year 2018 had been the strongest.

"In 2018, our ridesharing business has maintained its leadership in all the areas we serve, Uber Freight has gained popularity in the United States, JUMP bikes and electric motorcycles are en route in more than a dozen cities and the largest online food delivery business outside of China, based on gross bookings, "he said in a statement.

Although Uber did not reveal Eats in his latest financial report, Khosrowshahi had previously told Forbes that he was on track to deliver $ 10 billion worth of food to the world this year. Uber suffered a 30% reduction in sales, plus shipping costs, which would allow it to generate at least $ 1 billion in Eats revenue this year.

This booming business is important because Uber is not the only carpool company to head to the public market: Lyft, valued at around $ 15 billion, is also expected to be floated later this year.

At a better place in his financial report, Uber has slightly reduced his losses. The company lost $ 865 million in the fourth quarter, down from a loss of $ 1.07 billion in the third quarter. Adjusted losses for the full year were $ 1.8 billion, an improvement of 15% from $ 2.2 billion in 2017.