UBER SUFFERS $5.9 BILLION LOSS AS ASIA'S INVESTMENT PRICES COLLAPSE

  • 05/05/2022

Uber, the ride-hailing and delivery company, has reported a $5.9 billion (£4.7 billion) loss, owing primarily to its investments in other companies.

The majority of the loss, according to the corporation, was caused by a decline in the value of assets in companies such as China's Didi and South East Asia's Grab.

Didi and Grab's stock has plummeted since they went public in New York last year.

Despite the loss, Uber's CEO emphasised the company's efforts in recovering from the pandemic's impact.

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