Illustration by Alex Castro / The Verge
Uber reported its third quarter earnings on Monday, in which it posted a net loss of $1.2 billion. It was not quite as stunning as the previous quarter, which saw Uber lose a jaw-dropping $5.2 billion in just four months. Most of that amount, around $3.9 billion, was attributable to stock-based compensation related to the company’s initial public offering. Today’s report beat Wall Street’s expectations, which assumed the company would lose $1.5 billion.
Uber said it brought in $3.8 billion in revenue over the four-month period ending in September. Gross bookings, or total customer payments to Uber before payments to drivers and other fees or discounts, grew to $16.5 billion, representing 29 percent year-over-year growth.
Uber has been…