Published:  01:05 AM, 18 August 2018

Uber narrows loss but is a long way from finding profit


Uber Technologies Inc said on Wednesday it narrowed its quarterly losses from a year earlier, although the ride-hailing company is still a long way from proving it can be profitable as it gears up to go public in 2019.

Under the leadership of Dara Khosrowshahi, who became chief executive in September, Uber has juggled investing in new markets while retreating from others where it was losing millions of dollars.

It is building up services like food delivery and freight hauling as it seeks new revenue, and possibly a path to profitability, outside its core business.

-Reuters

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