Uber loses $ 5 billion in 3 months

Uber Technologies recorded its largest quarterly loss ever, affected by intense competition in Latin America and other countries, as well as significant IPO expenses.

The company, which operates in the area of ​​pbadenger and freight transportation through smart phone applications, reached 5.23 billion US dollars in the second quarter of this year.

The company recorded losses in the same quarter last year, amounting to $ 878 million.

Uber's business figure increased only 14% to $ 3.17 billion in the second quarter, June 30, the smallest increase ever recorded, and lower than forecasts of $ 3.3 billion badysts.

Although the results show that Uber continues to expand its global business, it continues to face a growing number of competitors worldwide, resulting in further driving incentive losses.

Analysts and investors continue to expect further losses for the company over the next few years, as competition in the market for advanced technology firms intensifies.

However, Uber expected the losses to begin to decline and provide a better forecast than expected for the year, citing a loss of $ 3 billion instead of $ 3.2 billion, according to Uber. the badysts.