"Net loss attributable to Uber Technologies, Inc. of $2.9 billion, which includes $277 million in stock-based compensation expense and pre-tax impairment write-downs of $2.1 billion. Net loss attributable to Uber Technologies, Inc. excluding the impairment write-downs, net of the tax benefit would have been $1.1 billion."

So a loss of $1.1bn is an improvement on $1.4 last quarter, not including write-downs associated with investments in Didi and Grab. This explains why the stock went up not down after earnings.

>https://www.marketwatch.com/press-release/uber-plows-forward...