India, May 8 -- Ride-hailing and delivery platform Uber Technologies, Inc. (UBER) reported Wednesday a net loss for the first quarter that sharply widened from last year, hurt by a huge net unrealized loss related to the revaluation of Uber's equity investments. Loss per share for the quarter missed analysts' expectations, while quarterly revenues topped it.
In Wednesday's pre-market trading, UBER is currently trading on the NYSE at $64.52, down $5.91 or 8.39 percent.
"More than 7 million people now choose to earn flexibly on Uber every month, with driver earnings of $16.6 billion continuing to grow faster than our topline," said Dara Khosrowshahi, CEO.
For the first quarter, net loss attributable to Uber sharply widened to $654 million ...