"Uber lost more than $5 billion in three months, and the stock is getting punished"

In late after-hours trade the stock is not down enough, off $2.47 (-5.75%) at $40.50 after trading as low as  $ 37.36 (16:07:19 PM).
Are you looking forward to WeWork's IPO as much as I am?

From MarketWatch:
Aug 8, 2019 6:04 p.m. ET

Huge losses include $3.9 billion in post-IPO stock compensation, more than Uber was expected to lose in total before the report

Uber Technologies Inc. shares plunged 12% in the extended session Thursday after the ride-hailing service reported a whopping $5.24 billion quarterly loss.

The company’s largest loss, equal to $4.72 a share, included $3.9 billion in stock-based compensation expenses related to its May IPO. Revenue improved 14% to $3.17 billion. Analysts surveyed by FactSet had estimated a loss of $2.03 a share on revenue of $3.3 billion.

The ride-hailing giant’s UBER, -6.33%  second-quarter results released Thursday offer the latest proof that it has a long road to turning a profit. Uber has lost more than $6 billion so far this fiscal year.

“What Uber has yet to prove is if the cost of the ride can cover the operating expenses,” Beth Kindig, a technology analyst in San Francisco, told MarketWatch in a phone interview. “I don’t like the price war narrative. What we know is that gross bookings are growing but revenue is in the low double digits while losses are accelerating due to subsidizing rides.”...MORE

A solid write-up of the write-off. I wish the FT's Izabella Kaminska was still smackin' this one upside the head.
She might have some fun with this line from Mr Khosrowshahi:

“I think that there’s a meme around which is, can Uber ever be profitable,” he later acknowledged. “I think that myself and the team are well prepared, but I think we are very very early in this incredible journey.”

From UBER's website:

• December 2008 On a cold winter evening in Paris, Travis Kalanick and Garrett Camp couldn't get a ride. That's when the idea for Uber was born.

March 2009 Uber founded as UberCab.

Tangentially reminiscent of Warren Buffett's comment on the Dow Jones Industrial Average:

December 31, 1964: DJIA 874.12
 December 31, 1981: DJIA 875.00 

“Now I’m known as a long-term investor and a patient guy, but that is not my idea of a big move.”
-Warren Buffett

But without Izzy, I guess it's up to me. "Once more unto the breach, dear friends, once more"
(okay, that was actually the King in Henry V, Act III)