Expect monstrous quarterly losses from Uber, and it won’t even be because of its IPO.
This was expected to be a slow week for corporate earnings after a long holiday weekend. Uber Technologies Inc. UBER, +2.57% decided to shake things up, though.
Uber’s losses will be monstrous, and it won’t even be because of the IPO. While stock-based compensation can cause huge GAAP losses after an IPO, the quarter Uber will report closed on March 31, well before the company’s stock sale. So Uber earned all the losses it will report on Thursday. A host of U.S. pot companies expect to report quarterly earnings during the week, including one of the most prominent multistate operators and one that could seek to claim greater legality than its counterparts in the business.
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