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(MENAFN – Youm7) CNN, the US network, said the growing losses and slowdown in revenue growth experienced by Uber in the United States was causing concern for investors.
According to the US television channel, the company announced, after the closing of the financial markets late last week, a loss of $ 5.2 billion in the second quarter of 2019, the largest loss of platoon in the society. In addition, his shares fell by more than 7% in trade before the official meeting.
This loss is explained by $ 3.9 billion of stock-related compensation related to the IPO. But even without these fees, the company still loses about $ 1.3 billion, an increase of about 50% over the previous year. Although the company generated revenues of $ 3.1 billion in the same quarter, an increase of 14% over the previous year, CNN notes that this growth does not meet the expectations of investors in companies of technology.
Uber invests heavily in freight and meal delivery. It also offers discounts on its core business to attract new customers to its competitors, led by LYFT.
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