Uber lost $8.5 billion in 2019, but it thinks it can get profitable by the end of 2020

Uber reported its fourth quarter earnings on Thursday, in which it posted a net loss of $1.1 billion. That’s not quite as much as the previous quarter, when it lost $1.2 billion, or as stunning as Q2, which saw Uber lose a jaw-dropping $5.2 billion in just three months. Overall, Uber said it lost $8.5 billion in 2019 — a sign of just how steep Uber’s path to profitability will be.