Uber down 9% after disappointing results <Al Watan newspaper

The Uber share plunged nearly 9% on Friday after disappointing results and despite the rebaduring remarks of the company's chairman.
According to the results, Uber has recorded a loss of about $ 5.23 billion in the second quarter of this year, compared with $ 878 million in the corresponding quarter of the previous fiscal year.
Revenues increased 14% in the quarter ending June, but badysts' forecasts were confirmed.
For its part, Dara Khosrooshi, CEO of Uber, said he did not fear increasing competition on the largest European market of the company in Europe (London).
Khosrooshi also explained that the company's huge losses in the second quarter were due to a one-time cost linked to the listing earlier this year.
At 13:58 GMT, Uber shares were down 8.6% to $ 39.30. The agencies