Uber recorded a quarterly profit on paper, after accounting for the value of selling its Southeast Asian business to Grab and its Russian business to Yandex. But it's a different story without those windfalls. Uber had a loss of $312 million before interest, taxes and other expenses in the quarter, cutting those losses in half compared with the first three months of 2017, according to financials provided by Uber. That's a marked improvement for a company that has burned through more than $10 billion.

Source: Los Angeles Times May 23, 2018 21:33 UTC