Uber Technologies Inc reported a $5.2 billion loss and revenue that fell short o...
) reported a $5.2 billion loss and revenue that fell short of Wall Street targets on Thursday as growth in its core ride-hailing business slowed, sending its shares down 6%.
Uber shares fell 5% after hours on Thursday and Lyft dropped about half a percent. Uber had risen more than 8% and Lyft had gained 3% during the day. At the same time, Uber is keeping less money per car ride. The amount passengers spent on trips rose 20% while the amount Uber kept after paying its drivers increased just 4%.
Uber’s costs rose 147% to $8.65 billion in the quarter, including a sharp rise in spending for research and development.
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