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Uber’s fourth-quarter earnings show losses, but they’re shrinking – Source CNET Tech


Uber sees more growth as it enters 2020.

Angela Lang/CNET

The last quarter of 2019 was turbulent for Uber, as it faced serious disruptions in its business from California to London to India. After bottoming out with its lowest-ever recorded share price in late November, however, the situation started to turn around for the ride-hailing company.

Uber’s share price began to slowly and steadily rise, even as Travis Kalanick, its co-founder and former CEO, left the company’s board and sold off all of his roughly $2.5 billion stake in the company. This change comes as Dara Khosrowshahi, Uber’s current CEO, has aimed to cut costs and streamline the company.

Uber reported on Thursday that despite not yet being profitable, it’s…

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Source CNET Tech

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