PayPal Holdings Inc. will report a $228 million loss on investments before taxes in the third quarter, driven in large part by a bad bet on Uber Technologies Inc. just before it went public.
The San Jose, California-based payments company said the investment in Uber, for $500 million at the initial public offering price, had declined 34%. Another investment, in Latin American online retailer MercadoLibre Inc., had declined 10%, PayPal said.