In May 2019, Uber posted its first post-Initial Public Offering (IPO) earnings report, reporting a net loss of US$1.1 billion for Q1 2019 in spite of growing earnings and monthly active users. While new ventures such as Uber Eats exhibited impressive growth rates of 89%, the core ride-hailing business only achieved a much more muted growth rate of 20%. Furthermore, Uber was able to grow its base of monthly active users by 33% over a period that also saw the brand retreat from Asia-Pacific (APAC) to consolidate its geographic coverage.
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