by Kyle Ziemnick
Posted 5/31/19, 10:54 am
The ride-sharing company Uber posted $1 billion in losses during the first quarter of 2019, despite gaining 20 percent in revenue over last year’s first quarter, in its first financial report since going public three weeks ago. The huge loss is attributed to an uptick in spending to remain competitive in the ride-sharing marketplace. Uber and Lyft are trying to become the go-to companies around the world amid increasing regulations and high demand.