Uber lost another $708 million in the first three months of the year

Enlarge / Uber's financials remain upside down. (credit: Jaap Arriens/NurPhoto via Getty Images)

Uber's chief financial officer is leaving the company amid yet another loss-making quarterly result, according to the Wall Street Journal. In the first three months of 2017, the company lost $708 million on revenues of $3.4 billion. That might sound disastrous, but it's actually an improvement for the ride-hailing company, which has posted billions of dollars of losses since 2014. Excluding the money the company didn't earn in China, it lost $2.8 billion in 2016.

For Uber fans, the important figure from the latest results is that $3.4 billion. That's up 18 percent from Q4 2016 (when it lost $991 million), suggesting that the #DeleteUber campaign-which encouraged people upset with the company and its numerous scandals to stop using the service and delete the app-may not have had much of an effect.

Uber told the WSJ that it still has $7.2 billion left in its coffers and that "the narrowing of our losses in the first quarter puts us on a good trajectory towards profitability."

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