Earlier this month, when Uber announced a withering $5.2bn second-quarter loss, two things happened: there was much condemnation (and schadenfreude) relating to the ride-hailing company’s prospects, and also an abundance of "wild ride" puns.

Unsurprisingly, the stock fell 12% in after-hours trading. In no small part this was because, though revenue for the quarter was up 14% to $3.2bn (instead of the estimated $3.4bn), it was short of the 20% growth of the first quarter. The other sizeable part of the equation was $3.9bn allocated for stock-based compensation for its IPO.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now