SAN FRANCISCO: Uber Technologies Inc on Monday posted a wider third-quarter loss as costs at the ride-hailing company soared, sending shares down 6.7 per cent in after-hours trading.
Uber's costs jumped about 33 per cent to US$4.92 billion in the reported quarter. Gross bookings, which include ride-hailing, mobility, food delivery and freight payments before costs and other expenses, rose 29.4 per cent from a year earlier to US$16.47 billion."Another quarter with more than a billion in losses, but I'm unsure why anyone would be surprised by that," said Clement Thibault, analyst at financial markets platform investing.com.
The company is building out its food delivery and long-haul trucking business, developing self-driving cars, offering banking services to its drivers and even planning commercial passenger drone shuttles by 2023.
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