Uber Sinks as Results Underwhelm Analysts in Lyft’s Shadow
- Ride-hailing company shares are now down 13% from IPO price
- Analysts note revenue miss; Loop terms results ‘messy’
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Uber Technologies results disappointed analysts after the ride-hailing company failed to beat sales estimates even as competitor Lyft recently posted expectation-busting earnings.
Analysts called the quarter “messy” and offering “more bad news than good.” With a loss of $5.2 billion for the second-quarter, the business update also reignited debate about when Uber will turn a profit.