Uber Posts $1.1B Loss

A big factor in the massive loss is Uber's investment in driverless cars.

In this Nov. 15, 2019, file photo is an Uber office in Secaucus, N.J. Uber continued to lose cash as it poured money into building its food delivery business and developing technology for driverless cars, but revenue for its rides business nearly tripled as the company picked up more passengers around the world. The ride-hailing giant lost $1.1 billion in the fourth quarter of 2019, about 24% more than it lost at the same time last year.
In this Nov. 15, 2019, file photo is an Uber office in Secaucus, N.J. Uber continued to lose cash as it poured money into building its food delivery business and developing technology for driverless cars, but revenue for its rides business nearly tripled as the company picked up more passengers around the world. The ride-hailing giant lost $1.1 billion in the fourth quarter of 2019, about 24% more than it lost at the same time last year.
AP Photo/Seth Wenig, File
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