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Uber stocks fall by 10%
Uber Technologies Inc. shares were having one of their worst days yet after the company failed to reassure investors of its growth potential, or that it can turn a profit anytime soon.
The ride-hailing company reported second-quarter adjusted sales that fell short of estimates and posted a net loss of $5.24 billion, by far the largest ever for the business. [Bloomberg]
Uber Technologies Inc. shares were having one of their worst days yet after the company failed to reassure investors of its growth potential, or that it can turn a profit anytime soon.
The ride-hailing company reported second-quarter adjusted sales that fell short of estimates and posted a net loss of $5.24 billion, by far the largest ever for the business. [Bloomberg]