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Uber shares continue slide in pre-market trading as CEO says profits will come 'eventually'

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Uber shares were down as much as 8% in pre-market trading on Friday after the company missed expectations in its second quarter results.

Uber missed expectations on the top and bottom lines, reporting a loss per share of $4.72 versus an expected loss of $3.12 per share. It reported revenue of $3.17 billion versus $3.36 billion expected by Wall Street. The company lost $5.2 billion during the quarter, which the company said was largely due to stock-based compensation.

He added that he doesn't think the Uber Eats food-delivery service will be profitable during the same time period, however, as it tries to chase growth.

 

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 /  🏆 12. in PT

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