Uber posts $50 bn in annual bookings as profit remains elusive ahead of IPO

Uber Technologies Inc had $50 billion in total bookings for its ride-service and food-delivery businesses last year, a testament to the size and global reach of the company as it prepares to woo investors in one of the biggest public stock listings to date.

But figures released by the company on Friday showed revenue grew just 2 per cent in the fourth quarter, a sign that Uber continues to heavily subsidize rides in competitive markets, raising questions about its future growth prospects. Uber's full-year revenue for 2018 was.....

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