Uber continues to lose money as it scales scooters, bikes and other newer businesses

Uber,  which is expected to go public sometime next year, just released its Q3 2018 financial results. Uber’s net losses increased 32 percent quarter over quarter to $939 million on a pro forma basis, though Uber expected these losses as it continues to invest in future growth areas.

On an earnings before interest, taxes, depreciation and amortization basis (EBIDTA), Uber’s losses were $527 million, up about 21 percent quarter over quarter. And as Uber prepares to go public, the company has started presenting the income statements with stock-based compensation.

… Uber, for the first time, has also broken out Eats specific gross bookings, which the company says accounted for $2.1 billion of overall gross bookings and is growing over 150 percent year over year. Last month, Uber announced its intention to expand Eats to cover 70 percent of the U.S. population by the end of this year.

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