Uber narrows losses to $1.8bn in 2018 but revenue growth slows ahead of IPO whatsapp Callum Keown Read more: Lyft to pitch fast growth to investors as IPO race with Uber intensifiesRevenue for 2018 as a whole was $11.3bn – up 43 per cent on the previous year.Full year losses narrowed, down 15 per cent from 2017, but the company still reported losses of $1.8bn, which may concern investors ahead of its eagerly-anticipated IPO.The company continued to grow its global reach, reporting that annual bookings rose 45 per cent and generated $50.2bn over 2018, including its food delivery service Uber Eats.The San Francisco-based firm filed for an an initial public offering (IPO) with the Securities and Exchange Commission (SEC) in November. Share Uber narrowed losses last year but saw revenue growth slow dramatically in the fourth quarter ahead of its IPO.The ride-hailing app said revenue grew just two per cent in the final three months of 2018 to $3bn (£2.3bn), a slowdown from the 38 per cent rise the previous quarter. “Last year was our strongest yet, and Q4 set another record for engagement on our platform,” chief financial officer Nelson Chai said.“In 2018, our ride-sharing business maintained category leadership in all region we serve.” he added.Rival ride-hailing company Lyft has trebled its reach in the past two years and now serves 600 cities in North America.Lyft is also preparing for an IPO and has been pitching its rapid growth to investors to get ahead of Uber in the race to list.As a result of Lyft’s rise, Uber’s profits from US rides have dropped and separately it has lowered driver fees in South America to ward off other rivals. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funnybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comMisterStoryWoman files for divorce after seeing this photoMisterStoryLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatter More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapp Tags: Trading Archive Saturday 16 February 2019 9:25 am Read more: Uber loses appeal over driver employment rightsBoth are expected to launch their IPOs later this year.“Uber needs to show it can control costs and can make money, basically provide a strong argument that its business model is not broken and that it can achieve and sustain profitability despite issues with drivers, customers and politicians,” David Brophy, professor of finance at University of Michigan’s Ross of School of Business said.