Uber stock falls despite earnings beating analyst expectations

Uber saw its stock drop by more than 5% despite beating analyst expectations of its revenue and losses for the third quarter.

Why it matters: Uber, as well as rival Lyft, still faces the difficult challenge of convincing investors that it will eventually make a profit. While its business grew, the company's losses for the quarter ($1.16 billion) also increased compared to the same quarter a year ago.