General Electric, Kraft Heinz and Newell Brands are the only companies in the S&P 500 that lost more money last year than Uber's $5.2 billion Q2 deficit.
Stil, Uber's quarterly loss is eye-popping for investors who are used to companies being well on their way to sustainable profits by the time they reach such a lofty market cap. As of Thursday's close, Uber was worth $67.3 billion, which would make it the 84th most valuable company in the S&P 500, if it were in the index.
Uber shares dropped about 6% in extended trading after reporting disappointing revenue and a wider-than-expected loss. "We think that 2019 will be our peak investment year and we think that 2020, 2021, you'll see losses come down," CEOAmong S&P 500 companies, only 26 lost money in 2018. The only three to lose more for the year than Uber lost in the second quarter were
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