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Uber's Q3 losses widen as SoftBank launches bid to buy its shares

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Published Wed, Nov 29, 2017 · 09:50 PM

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San Francisco

UBER Technologies Inc's net loss widened to US$1.46 billion in the third quarter, according to people with knowledge of the matter, a sign that the ride-hailing leader is finding it harder to eke out a profit amid strong competition and a host of legal and regulatory pressures.

The San Francisco-based company reported financials to shareholders as part of a formal bid on Tuesday night from a SoftBank Group Corp-led consortium looking to buy a large block of stock.

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