Uber warns it may not make a profit in IPO documents

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PA Wire

Uber, the ride-sharing app and delivery business, has warned it “may not achieve profitability” as it finally released details of its plan to float.

It will list its shares on the New York Stock Exchange, in a deal likely to value the US firm at about $100bn (£76.5bn).

Uber said that its most recent annual sales rose to $11.2bn and losses narrowed to $3bn.

But it also expects operating expenses to “increase significantly”.

The company did not disclose how it will price its shares when it begins selling them to public investors on the stock exchange.

However, it has been reported that they may be valued at between $48 and $55 each, potentially giving the 10-year old firm a value of up to $100bn, making it the biggest initial public offering this year.

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