Uber’s share price sank today after the company reported a $5.2 billion loss in the second quarter—yes, that is billion with a “b”—on sales that fell short expectations. The massive loss, revealed after the market closed yesterday, was partly expected. Uber went public in May, and a $3.9 billion stock-based compensation bill came due in the second quarter. But the actual loss proved nearly 50% greater than the $3.6 billion figure analysts had pencilled in.
I literally dropped my jaw, when the news first broke out. They have never been profitable since their inception. And now they have set a new record of a quarterly loss by their own standards. For myself and everyone else not-in-the-billionaire-club yet, I will break it down, that how large $5 Billion a sum of an amount is.
1.5 M x 40 HC (@ Avg. $3500/ea) 20 x Boeing 747-400F (@ Avg. $250M/ea) 5 x 21000 TEU Container Ships (@ Avg. $950M/ea)