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

Illustration by Alex Castro / The Verge

Uber reported its fourth quarter earnings on Thursday, in which it posted a net loss of $1.1 billion. It was 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 says it lost $8.5 billion in 2019 — a sign of just how steep Uber’s path to profitability will be. That said, the company says it thinks it can finally eke out a profit on an adjusted based at the end of 2020.

Of that Q4 loss of $1.1 billion, Uber says $243 million was due to stock-based compensation. The company brought in $4.1 billion in revenue over the three-month period ending in December. Gross bookings, or total customer payments to Uber before…

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