Uber's net loss includes $3.9 billion in stock-based compensation expenses and $298 million in driver appreciation awards related to its IPO.
Uber results weren't ideal, but it continues to be an industry leader posting double-digit revenue growth in an important and disruptive market.
Uber chief executive Dara Khosrowshahi and marketing team boss Jill Hazelbaker announced the restructuring internally, along with an aim of making the company's brand message more consistent, according to the company.
Uber stock had risen more than 8% and Lyft had gained 3% during the day.
The loss per share including those expenses totalled $4.72 while revenue jumped 14 per cent to $3.17 billion.
Gross bookings, which is the total dollar value of rides and Uber Eats meals and the amount paid by freight shippers, grew 31 per cent - or 37 per cent in constant currency - compared with the same time previous year.
On Wednesday, rival Lyft reported figures that were generally welcomed on Wall Street, and there was an expectation that Uber would also post positive numbers.
Manx-born Tierney completes £25m Arsenal move
While KT's move will certainly be hard to digest so soon after being completed, I think any criticism directed his way is harsh. However, his announcement message will have angered Celtic fans who felt the player should have stayed to complete 10-in-a-row.
Laurent Koscielny explains reasons for controversial Gunners exit
Laurent Koscielny has ended his nine-year association with Arsenal to join Bordeaux . Very very disrespectful, I'm disappointed Kos, ' wrote @GooneretteXhaka.
Spurs in for Coutinho Arsenal aren't
But some rumours claim, the deal has collapsed because the Lilywhites were unable to meet the wage demands of the Brazilian. Reports in Spain claimed the Gunners had made a move for Coutinho , however, nothing concrete has come of that link yet.
It was the first of the major ride-hailing companies to go public, beating Uber to its stock market debut.
Uber's stock fell by more than 10% immediately following the earnings announcement.
Uber has consistently said 2019 was expected to be an investment year. Food delivery Uber Eats grew 72% to $595 million.
Revenues are rising in part due to a cooling price war with rival Lyft, as both companies prioritize profitability over growth and spend less on incentives to attract riders to their apps. It raised its revenue outlook on Wednesday.
Uber's costs rose 147% to $8.7bn in the quarter, including a sharp rise in spending for research and development. Other Bets revenue increased 175 percent year-over-year to $195 million with gross bookings coming in at $182 million, 153 percent higher year-over-year.
But the San Francisco-based company lost $664.2 million in the quarter, which was worse than the $445 million loss that analysts polled by FactSet expected.
He does not expect the Eats food delivery business to be profitable next year or the year after, but said "I think what we have is a great combination of a ride business that is going to turn more profitable over the next couple years, that will allow us to invest aggressively in the Eats business and also carry a bottom line that improves". Uber's fleet of personal mobility and Uber Eats drivers completed 1.677 million trips during the quarter, 35% more than they completed a year earlier.