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May 31, 2019 | Via CNN

Uber Lost More than $1 Billion in the First Quarter

Uber said Thursday it lost more than $1 billion in the first three months of 2019, in the latest sign that the company has a long and uncertain road ahead to profitability. The ride-hailing company lost $1.01 billion in the first quarter, compared to a rare profit of $3.75 billion in the same period a year ago, which was fueled by its decision to cede two of its operations abroad to rivals. For the better part of a decade, Uber raised unprecedented sums of capital from venture capitalists, celebrities and Saudi Arabia to bulldoze into markets around the world.

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