The Latest: Uber reveals finances as it gears up for IPO
SAN FRANCISCO (AP) — The Latest on Uber revealing its finances ahead of its initial public offering (all times local):
Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market.
Documents released Thursday offered the most detailed view of the world’s largest ride-hailing service since its inception a decade ago. The unveiling comes four months after Uber took its first step toward its initial public offering with a confidential filing.
The breakdown shows Uber has been generating the robust revenue growth that entices investors, but also racked up nearly $8 billion in losses since its inception.
Uber’s revenue totaled $11.3 billion in 2018, a 42 percent increase from $7.9 billion in 2017.