Uber reported losses of nearly $6 billion for the first three months of the year, driven by its investments in other companies, the ride-sharing company announced on Wednesday.
The California-headquartered company reported a first-quarter net loss of $5.9 billion, or $3.04 a share, compared with a loss of $108 million, or 6 cents a share, during the same period a year ago.
Uber said the majority of the losses were because of its investments in stakes in Southeast Asia’s Grab, China’s ride-hailing giant Didi, which has been linked to the Chinese Communist Party, and self-driving vehicle company Aurora.
The loss also included $359 million in stock-based compensation costs, Uber said.
…