While Uber's Rides segment is profitable, it is spending heavily on new businesses such as Eats.
The company "is betting that by building out its financial ecosystem, it can keep drivers and riders loyal to its platform."
The bill would require gig economy workers to be reclassified as employees instead of independent contractors.
"It’s critical we get our edge back and continually push ourselves to do better," Uber's CEO says.
“What’s sapping investor confidence ... is the absence of a clear path to grow revenue and cut costs,” an analyst says.
Both ride-sharing companies experienced staff shake-ups on Monday after disappointing market debuts.
While media reports proclaimed the ride-sharing service's initial public offering to be a failure, it really wasn't.
“The torrent of activity in the second quarter means that 2019 is shaping up to be a banner year for the IPO market."
Tax authorities in the United States and several other countries are investigating Uber, even though it's a loss company and therefore owes no income taxes.
Despite weighty challenges, positive financial signals abound for the high-profile firm, and its still relatively new management team wins strong plaudits.
The company' sees steady progress toward profitability after this year but revenue growth is expected to slow to 52% in 2019.
Drivers for Uber and Lyft will turn off their apps to protest low wages.
