Uber loses $8.5B in 2019

Uber late last week reported it lost $1.1 billion in the fourth quarter and $8.5 billion in 2019.

"We recognize that the era of growth at all costs is over," said Dara Khosrowshahi, Uber's CEO, in a statement with the earnings report. "In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution and the unrivaled scale of our global platform."

Since going public last May, Uber has lost $1 billion or more each quarter.

Read more from CNN Business.