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Uber’s losses top $1 billion, trumping better than expected revenues

Better than expected revenues couldn’t divert investor attention from the fact that Uber still managed to lose more than $1 billion in the most recent quarter as the company’s stock fell in after-hours trading.

“Our results this quarter decisively demonstrate the growing profitability of our Rides segment,” said Dara Khosrowshahi, the company’s chief executive, in a statement.

Losses in earnings at the company’s Uber Eats business grew 67% to $316 million from $189 million in the year-ago period.

That includes adding new features and technologies to its Uber Eats delivery program (despite what recent losses at GrubHub may imply about the food delivery business) and pressing forward with another darling of the tech set these days — the company’s financial services platform.

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