Uber Loses Nearly $6 Billion on Investments in Didi, Grab

[claireokc]

Uber reported losses of nearly $6 billion for the first three months of the year, driven by its investments in other companies, the ride-sharing company announced on Wednesday. The California-headquartered company reported a first-quarter net loss of $5.9 billion, or $3.04 a share, compared with a loss of $108 million, or 6 cents a share, during the same period a year ago. Uber said the majority of the losses were because of its investments in stakes in Southeast Asia’s Grab, China’s ride-hailing giant Didi, which has been linked to the Chinese Communist Party, and self-driving vehicle company Aurora. The loss also included $359 million in stock-based compensation costs, Uber said. ...

Source: https://www.theepochtimes.com/uber-lose ... 47337.html