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Uber Sales Rose 61% to $2 Billion Last Quarter Under New CEO

February 13, 2018 11:47 pm

Uber Technologies Inc. had a painful 2017, but the business managed to grow.

Adjusted net revenue increased 61 percent to $2.22 billion from the same period in 2016. Meanwhile, the total value of fares grew to $11 billion that quarter. It was the first full quarter under Dara Khosrowshahi, who took over the troubled business in September.

Despite a turbulent year for the ride-hailing company, sales were $7.5 billion. But the company also posted a substantial loss of $4.5 billion. There are few historical precedents for the scale of its loss.