Home Daily Blitz Uber’s Finance Head Leaves Amid $708 Million Loss

Uber’s Finance Head Leaves Amid $708 Million Loss

Th Uber Technologies Inc. car service application (app) is demonstrated for a photograph on an Apple Inc. iPhone in New York, U.S., on Wednesday, Aug. 6, 2014. For San Francisco-based Uber Technologies Inc. which recently raised $1.2 billion of investors' financing at $17 billion valuation, New York is its biggest by revenue among the 150 cities in which it operates across 42 countries. The Hamptons are a pop-up market for high-end season weekends where the average trip is three time that of an average trip in New York City. Photographer: Victor J. Blue/Bloomberg via Getty Images

The following is an excerpt from Fortune.com | Updated May 31, 2017 |

Uber Technologies Inc's head of finance is leaving as the ride-hailing company reported continued big losses for the first quarter, the Wall Street Journal reported on Wednesday.

The ride-hailing company's first-quarter revenue was $3.4 billion, up 18 percent from the fourth quarter, the newspaper reported.

Uber's first-quarter loss, excluding employee stock compensation and other items, was $708 million, narrower than the $991 million reported three months earlier, the Journal said.

Uber's head of finance, Gautam Gupta, is leaving the company in July to join another startup in San Francisco, adding to an exodus of top officials, the report said.

For more visit: Fortune.com