Home topics news News News Uber posts $1bn loss on bookings slowdown Gali Blacher November 19, 2018 Uber Technologies says growth in bookings for its ride-hailing and delivery services rose just six per cent in the latest quarter, the third quarter in a row that growth has remained in the single digits after double-digit growth for all of last year. The San Francisco-based firm lost $US1.07 billion for the three months ending September 30, a 20 per cent increase from the previous quarter but down 27 per cent from a year ago, when the company posted its biggest publicly reported quarterly loss on the heels of the departure of Uber co-founder and former Chief Executive Travis Kalanick. Uber is seeking to expand in freight hauling, food delivery and electric bikes and scooters as growth in its now decade-old ride-hailing business dwindles. The company, valued at $US76 billion, faces pressure to show it can still grow enough to become profitable and satisfy investors in an initial public offering planned for some time next year. Its adjusted loss before interest, taxes, depreciation and amortization was $US592 million, down from $US614 million last quarter and $US1.02 billion a year ago. “We had another strong quarter for a business of our size and global scope,” said Nelson Chai, Uber’s chief financial officer, who joined in September after the job had been vacant for three years. He emphasized the “high-potential markets in India and the Middle East where we continue to solidify our leadership position.”