Uber's business slowed dramatically in the fourth quarter as it gears up for an IPO

Business Insider | 2/16/2019 | Troy Wolverton
JimmyJoe (Posted by) Level 3
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Uber's loss dropped to $370 million last year from $4.5 billion in 2017, the company reported Friday.

But its bottom line was boosted by the sale of two of businesses.

Growth - Rate - Quarter - Sales - %

And its growth rate slowed dramatically in the fourth quarter; sales grew just 2% from the third quarter and only 25% from the holiday period of 2017.

Uber dramatically narrowed it loss last year, thanks to the sale of its businesses in Russia and Southeast Asia, the company reported Friday.

Business - Quarter - Asset - Sales - Loss

But its business slowed dramatically in the fourth quarter, and without the asset sales, it would have posted a loss of more than $1 billion.

The app-based taxi service lost $370 million on sales of $11.3 billion in 2018, the company said. Uber showed improvement on both its top and bottom lines for the year; in 2017, it lost $4.5 billion on $7.5 billion in sales.

Uber - Bottom - Line - Business - Sales

Uber's bottom line benefitted from the business sales. Excluding those and certain other charges and benefits, the company would have lost $1.8 billion last year. On that...
(Excerpt) Read more at: Business Insider
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