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Uber reveals finances as it gears up for IPO

1 year 1 month 3 weeks ago Thursday, April 11 2019 Apr 11, 2019 April 11, 2019 2:51 PM April 11, 2019 in News - AP National

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.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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