Pummeled By Scandal, Uber Hit With $4.46B In Losses During 2017
According to recently released financial numbers, Uber lost $1.1 billion during the fourth quarter of 2017 while taking in $2.26 billion in revenue, according to The Wall Street Journal and other media outlets that have reviewed a privately held financial statement. By comparison, Uber reportedly lost $1.46 billion during the third quarter.
The quarterly figures come less than a week after Uber settled what could have been a very expensive lawsuit brought by Waymo.
The fact that Uber’s revenue has continued to grow despite an expanding list of setbacks and scandals last year may suggest that the company hasn’t been significantly impacted overall.
For the entire year of 2017, Uber sustained a loss of $4.46 billion on sales of $7.36 billion.
In a call with investors on Tuesday, CEO Dara Khosrowshahi said that the company’s food delivery service, known as UberEats, had hit $4 billion in gross revenue or about 10 percent of Uber’s business, according to Bloomberg. Khosrowshahi is expected to take the company public next year.
