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Uber just reported massive losses that were larger than Wall Street expected — and the stock is sinking

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Geekz Snow
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Uber just reported massive losses that were larger than Wall Street expected — and the stock is sinking

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

The ride-hailing giant lost $4.72 per share on revenues of $3.17 billion.

A big chunk of Uber's massive $5.24 billion loss was because of stock-based compensation from its initial public offering earlier this year.

Follow Uber's stock in real time here.

Here are the important numbers:

Earnings per share (GAAP): -$4.72 versus -$3.23 expected

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Geekz Snow