Uber (NYSE: UBER) lost $5.24 billion in the second quarter — its largest quarterly loss ever — after making huge stock-based payouts in the months following its initial public offering.
The loss per share including those expenses totaled $4.72 while revenue jumped 14% to $3.17 billion. Analysts surveyed by FactSet expected a loss of $2.03 per share on revenue of $3.31 billion, on average.
Uber reported second-quarter earnings Thursday that fell short of analyst expectations. Shares tanked as much as 12% in aftermarket trading on the news. Uber’s CEO Dara Khosrowshahi said that losses should come down in the next few years. Watch Uber trade live on Markets Insider. Uber lost more money in the second quarter than experts expected.
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