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Uber recorded a loss of 5.2 billion dollars (19.5 billion riyals) in the second quarter of 2019, the largest loss in its history, although most of these losses are related to non-recurring expenses.
The company's revenue growth slowed to about 3.2 billion dollars (12 billion riyals), reaching 14%, a figure lower than the expectations of badysts, who had established 3 , 36 billion dollars (12.6 billion riyals).
The airline said that Uber flights had increased by 35% and bookings in general by 37% compared to the second quarter of 2018.Uber also reached for the first time 100 million customers a month, its services are now integrated into everyday life in many cities around the world.
The main reason for these heavy losses is that Uber's expenses increased by 147%, reaching $ 8.65 billion (32.4 billion SAR) in the second quarter of 2019, thanks to a sharp increase in R & D expenditure. "
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