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August 9, 2019

Uber posts biggest quarterly loss ever after stock payouts

By CATHY BUSSEWITZ
AP Business Writer

NEW YORK — Uber lost $5.24 billion in the second quarter — its largest quarterly loss ever — after making huge stock-based payouts in the months following its initial public offering.

The ride-hailing giant said Wednesday it paid $3.9 billion in stock-based compensation and expenses during the quarter. It also paid $298 million in stock and cash to drivers to show appreciation in connection with the IPO.


 
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