Uber Loses $708million

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Ride hailing company, Uber has been reported to have lost a total of $708 in the first quarter of the year.

The company, according to the Wall Street Journal last week did not make any profit in the first quarter of the year.

In confirmation of the Wall Street Journal’s publication last week, the company has just confirmed that it indeed lost a total of $708 million in the first three months of the year.

Uber however revealed that despite the loss, it posted $3.4 billion in revenue.

Speaking through its spokesperson, the company added: “these results demonstrate that our business remains healthy and resilient as we focus on improving our culture, management and relationship with drivers and Uber is on a good trajectory towards profitability.”

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