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Uber Stock Tanks After Earnings Reports

Video Credit: Wochit News - Duration: 00:32s - Published
Uber Stock Tanks After Earnings Reports

Uber Stock Tanks After Earnings Reports

On Thursday, Uber reported second-quarter earnings that widely missed Wall Street expectations.

Business Insider reports that Uber lost $4.72 per share on revenues of $3.17 billion.

Uber suffered $5.24 billion overall loss.

Some of Uber's massive loss was because of stock-based compensation from its initial public offering earlier this year.

The stock was down as much as 12%, or $5.33, in after-hours trading.

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