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Thursday September 24th, 2020 5:57PM

Uber reveals finances as it gears up for IPO

By The Associated Press
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SAN FRANCISCO (AP) — Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market.

Documents released Thursday offered the most detailed view of the world's largest ride-hailing service since its inception a decade ago. The unveiling comes four months after Uber took its first step toward its initial public offering with a confidential filing.

The breakdown shows Uber has been generating the robust revenue growth that entices investors, but also racked up nearly $8 billion in losses since its inception.

Uber's revenue totaled $11.3 billion in 2018, a 42 percent increase from $7.9 billion in 2017.

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