Uber's second quarter earnings fell below expectations and sent stock shares tumbling
revealed Uber faced both its slowest period of revenue growth and largest-ever loss during the second quarter, sending shares of Uber stock down as much as 12 percent in after hours trading.
Uber's Q2 earnings fell below analyst expectations, posting a $4.72 loss per share and $3.17 billion in revenue. The company's posted $5.2 billion loss marked the biggest loss since Uber's financial disclosures began in 2017, and even excluding the $3.9 billion the company paid in stock-based compensation, the remaining $1.3 billion is still nearly double Uber's $878 million loss in Q2 2018.
The disappointing earnings report came just one day after Lyft, Uber's biggest competitor in the ride-sharing space, raised their stock prices after posting markedly more encouraging. The Uber rival earned $867 million in revenue, a 72% increase over last year, and a loss per share of 68 cents, beating an expected $809 million in revenue and $1.74 per share loss.
Uber's Q2 earnings reflect a seemingly troubled period for the company in the wake of their disastrous IPO in May, which was described at the time as potentially the
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