Uber reveals finances as it gears up for IPO
By CATHY BUSSEWITZ and MICHAEL LIEDTKE
AP Business Writers
SAN FRANCISCO (AP) - Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market.
Documents released Thursday offered the most detailed view of the world's largest ride-hailing service since its inception a decade ago. The unveiling comes four months after Uber took its first step toward its initial public offering with a confidential filing.
The breakdown shows Uber has been generating the robust revenue growth that entices investors, but also racked up nearly $8 billion in losses since its inception.
Uber's revenue totaled $11.3 billion in 2018, a 42 percent increase from $7.9 billion in 2017.
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