Uber's loss jumped 61 percent to $4.5 billion in 2017

Key Points
  • Uber's loss narrowed in the fourth quarter from the third after cost-cutting measures.
  • CEO Dara Khosrowshahi's is moving the company toward profitability and a goal of going public in 2019.
Uber's losses more than doubled in 2017
Uber's losses more than doubled in 2017

Uber has just revealed its fourth-quarter financial results, which show that the ride-hailing company's loss jumped 61 percent in 2017.

The company lost $4.5 billion last year, up from $2.8 billion in 2016, according to figures first reported by The Information and confirmed by CNBC on Tuesday.

However, in the fourth quarter, which was CEO Dara Khosrowshahi's first full period at the helm, Uber's loss narrowed to $1.1 billion from $1.46 billion in the third quarter. Gross revenue during that period climbed about 14 percent to $11.1 billion from $9 billion.

Uber ended the year with about $6 billion in cash, 13 percent below the prior year's total, according to Bloomberg.

Uber is not required to publicly report its financial results, but has begun disclosing some figures in recent months.

--Thomson Reuters contributed to this report.