News Formal

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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I never invest money in company lose money

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves after hours: Lyft, Uber, Roku and moreSee which stocks are posting big moves after the bell on August 7.
Source: CNBC - 🏆 12. / 72 Read more »