Uber announces £790million quarterly loss in first figures published since flotation

Ride-hailing firm Uber has announced a £790million ($1billion) quarterly loss in its first figures published since its rocky flotation earlier this month.

The losses come despite a rise in active users and revenues increasing by 20% to $3.1billion.

Whilst Uber shares have so far performed poorly, dropping almost 11% since it listed its IPO on 10 May, some analysts have been encouraged by the rise in revenue.

The minicab firm will also continue to invest heavily in other markets, which includes its food delivery service (UberEats) and e-bike hiring options. 

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