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Uber shares fall after ride-hailing company reports $5bn loss

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Shares in Uber fell around 6% after the company reported record losses for its second quarter

.Costs rose by 147% to $8.65bn during the quarter.

This was partially due to one-off costs, such as $3.9bn of stock-based compensation expenses related to its IPO earlier this year and nearly $300m in"driver appreciation" related to the stock sale.Total revenue was up 14% to $3.2bn but still below expectations. Revenue from the company's main business - its ride-hailing - grew just 2% to $2.3bn and food delivery division Uber Eats grew 72% to $595m .

 

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