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Uber's global reach distinguishes it from rival Lyft Inc., which operates in the USA and Canada. The Uber filing gave the first comprehensive financial picture of the ride-hailing and transportation services company.

The company posted a profit of $997 million a year ago, but that doesn't mean its ride-hailing service suddenly started to make money - far from it.

The breakdown shows Uber has been generating the robust revenue growth that entices investors, but also racked up almost $8 billion in losses since its inception.

Documents filed with the U.S. regulator the Securities and Exchange Commission show that it made a small profit past year, but this was because of the sale of businesses in Asia. It said its revenue previous year rose 42 per cent to reach $US11.3 billion ($NZ16.8b), and it achieved a $US1b profit, derived from selling some of its overseas businesses.

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Uber filed with an initial offering amount of $1 billion, typically a placeholder amount used to calculate fees that will change. If successful, Uber would attain a valuation of between $90 million and $100 billion and the largest tech IPO since Chinese e-commerce business Alibaba in 2014. Investment bankers previously told Uber it could be worth as much as $120 billion.

Uber Technologies Inc has decided it will seek to sell around $10 billion worth of stock in its initial public offering (IPO), and will make public the registration of this offering on Thursday, people familiar with the matter said earlier this week.

Reaching profitability has proven to be a challenge for both Uber and Lyft.

After making the public filing, Uber will begin a series of investor presentations, called a roadshow, which Reuters has reported will start the week of April 29. The company applied to list on the New York Stock Exchange under the ticker UBER. Short interest in the stock now stands at almost 43 percent of free float, according to financial analytics firm S3 Partners, and last week IHS Markit said it was the most expensive bearish bet in the USA equity market.

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The probes are among the many risks that investors must weigh as they mull whether to jump into one of the biggest IPOs in years. Analysts consider building scale crucial for Uber's business model to become profitable.

Those have included sexual harassment allegations, a massive data breach that was concealed from regulators, use of illicit software to evade authorities and allegations of bribery overseas. Khosrowshahi joined Uber in 2017 to replace company co-founder Travis Kalanick who was ousted as CEO.

Uber said in its filing its ridesharing position in the United States and Canada was "significantly impacted by adverse publicity events" and that its position in many markets has been threatened by discounts from other ride-hailing companies.

Uber said its market share fell in most regions a year ago, although the rate of decline has slowed. On Tuesday, Lyft's shares closed at $67.44. The app is active in more than 700 cities, with drivers completing more than 14 million trips per day.

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