Uber Technologies Inc. in its first financial report as a public company, posted first-quarter sales near the high end of its previously disclosed preliminary results. The company also reported a US $1.01 billion quarterly loss, among the largest of any public company.
Nelson Chai, the chief financial officer, laid out a path for costs to eventually come down. On a conference call after the report, Chai said Uber will cut back on customer promotions and that marketing expenses as a percentage of revenue should decline in the second quarter.