Uber announced on Thursday that it lost $1.1 billion in the fourth quarter of last year. As I said last quarter, this wasn't a surprise. After all, Uber lost $1 billion in the first quarter of 2019, a lot more than $1 billion in the second quarter (though most of it was one-time charges related to Uber's IPO), and $1.1 billion last quarter. Uber has been burning cash at about this rate since at least 2017.
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