Uber is still reporting steep losses but its revenue growth is showing some promise.
On Monday, the ride-hailing company reported it lost $1.16 billion during the third quarter including $401 million in stock-based compensation expenses related to its public offering in May. During the same period last year, Uber lost $986 million. In the second quarter, it reported a staggering loss of $5.2 billion, about $3.9 billion of which was related to IPO expenses.The company's stock fell about 4% in after-hours trading.
The company has gone through two rounds of layoffs since its IPO, with the most recent round in September impacting 435 positions on its product and engineering teams.Read More"This company grew very fast — and in the early years, the most important factor was speed to market. ... There wasn't a lot of focus on 'how do you make sure you work efficiently?'" Khosrowshahi said, noting that it was"absolutely the right set of priorities" at the time.
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