Uber stock plummets following second-quarter earnings report

Uber disclosed earnings for the second time since becoming a public company, reporting revenues of $3.16 billion on losses of $5.2 billion for the second quarter of 2019. Uber (NYSE: UBER) closed up more than 9% Thursday at $42.98 per share, just below its $45 IPO price, but took a nose dive more than 11% on the news. $5.2 billion in net losses represents the company’s largest-ever quarterly loss. Revenue, for its part, is up only 14% year-over-year.

Learn more about your ad choices. Visit podcastchoices.com/adchoices