Sales in 2018 increased by 43 percent to $11.3 billion (equivalent to approximately SEK 105 billion) and at the same time the annual loss decreased by 15 percent to $1.8 billion.

”Last year was our strongest to date, and the fourth quarter set a new record for activity on our platform,” said CFO Nelson Chai in a statement.

At the same time, the taxi service is seeing growth slow down, with revenue rising by 25 percent in the fourth quarter compared to the previous year. In the third quarter, growth was 38 percent.

Uber is privately held, but an IPO is planned for 2019, with speculation that the company would be valued at up to $120 billion, equivalent to SEK 1,110 billion. To defend such a valuation to investors, growth should not slow down too much.

Uber wants to broaden its reach ahead of the listing and is now marketing itself as a transportation and logistics company and not just a simple taxi service. The company will be present throughout the transportation chain, but so far, investments in freight services, electric scooters, self-driving cars and the development of flying cars have only cost money.

Source: TT