Uber's fourth-quarter loss narrows to $1.1 billion

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As a part of the agreement, Uber will not use Waymo technology in its automated vehicles and will pay Waymo 0.34 percent of Uber's equity at a valuation of $72 billion for the company, which comes out to roughly $245 million. In case, Waymo is able to justify their allegations and prove that Uber is involved in unethical practices of stealing their trade secrets and initiated the development of the self-driving technology program, then there are high chances that they would stop the development process and demand for the damages caused by the stealing activity up to $1.86 billion.

The changes included selling Uber's unprofitable car-leasing business and appointing a chief operating officer, who is required to cut costs and establish more standardization across 80 countries that the firm operates in.

Uber and Google sibling company Waymo have reached a settlement on a lawsuit stemming from a self-driving auto technology dispute.

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Uber considers adjusted earnings before taxes as a better indicator of its financial performance rather than net earnings based on Generally Accepted Accounting Principles, which include losses for accounting purposes. I think that helped us get to the settlement'.

Gross revenue for the year rose 85 per cent over 2016, to $US37 billion. Uber concluded the year with about $6 billion in cash, 13 percent less than the year before.

According to recently released financial numbers, Uber lost $1.1 billion during the fourth quarter of 2017 while taking in $2.26 billion in revenue, according to The Wall Street Journal and other media outlets that have reviewed a privately held financial statement.

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This is Khosrowshahi's first full quarter since becoming Uber's head.

"We're a publicly reporting private company - go figure", Khosrowshahi said.

While revenue saw a boost, Uber lost an estimated 12 points of market share over the course of previous year to Lyft. Last month, SoftBank Group led a $9.3 billion investment deal to make itself largest shareholder in the San Francisco-based company.

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Khosrowshahi says "getting the love back" has been one of his top priorities since Uber lured him from online travel agency Expedia five months ago to replace co-founder Travis Kalanick as CEO.