Uber reported gross bookings in its Rides segment were up 20 percent year over year to $12.6 billion in the third quarter. Gross bookings from premium products grew at a higher rate, with Comfort and Black rides up 41 percent globally and 53 percent in the United States. Total revenues in the U.S. and Canada were up 39 percent year over year to $2.4 billion, and revenues also were up by double digit percentages in Europe, the Middle East and Africa (24 percent) and Asia/Pacific (31 percent). Total costs and expenses increased 32.7 percent to $4.9 billion during the quarter, including a 29.5 percent increase in sales and marketing costs and a 74 percent increase in research and development costs. Uber reported a net loss of $1.2 billion for the quarter, compared with a net loss of $986 million in the third quarter of 2018. The company's goal is for 2021 to be its first year of profitable earnings, CEO Dara Khosrowshahi said in an earnings call.
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