In the second quarter, the company posted a loss of $660 million excluding those items. Gross bookings are total customer payments to Uber before payments to drivers and other fees or discounts. Path to Profits: Uber shares have fallen 30% since the company went public, reflecting investors’ skepticism that the ride-hailing giant can generate sustainable profits. Lockup Expiration: There could be significantly more selling pressure on Uber’s shares starting Wednesday, when the post-IPO lockup period expires. RBC Capital Markets analyst Mark Mahaney estimates that 1.7 billion shares will become eligible for sale, roughly 90% of the total.

Source: Wall Street Journal November 04, 2019 11:03 UTC