Uber estimates it lost at least $1 billion in the first quarter of 2019

Uber filed an updated S-1 document as part of is IPO on Friday.The company expects to lose at least $1 billion for the first quarter of 2019, on revenues of just over $3 billion.Friday's filing also disclosed the company's plan to sell shares between $44 and $50 per share, giving it a valuation near $90 billion. Uber expects its first quarter financial losses to be at least $1 billion and as high as $1.11 billion, the ride-hailing giant said in an updated IPO filing Friday morning.Revenue for the first three months of 2019 should be between $3.04 billion and $3.10 billion, Uber said, up from $2.58 billion in the same quarter of the previous year.Unlike the previous three years of financial data included in Friday's filing (and all quarterly filings after a company goes public) the data released by Uber on Friday has not been audited by the company's outside accounting firm, PricewaterhouseCoopers.“The expected net loss attributable to Uber Technologies, Inc. is due to increased loss from operations for the three months ended March 31, 2019 due to continued investment in our Core Platform, including increased incentive and promotion spend,” the company said.“Additionally, net income attributable to Uber Technologies, Inc. for the three months ended March 31, 2018 was impacted by $3.2 billion of gains from the divestitures of our Russia/CIS operations and our Southeast Asia operations, as well as a $2.0 billion unrealized gain on our investment in Didi during the same period.”Going forward, the company says its “Core Platform Contribution Margin” will be between -4% and -7%. For the first quarter, that loss was impacted by “increased competitive pressures in certain markets,” Uber said, as it “increased our incentive and promotion spend to maintain our competitive position relative to prior periods.”In other words, Uber is acknowledging the ongoing pricing war between itself and Lyft, easily its biggest competitor in the United States. Both companies have been aggressively offering discounts and other incentives to keep people riding and not jumping ship to a competitor.Core Platform Contribution Margin isn't a financial measure, but Uber says it's a good indicator of performance since it “does not include indirect unallocated research and development and general and administrative expenses (including expenses for ATG and Other Technology Programs).”Uber's updated filing on Friday is also the first time the company has disclosed the number of shares it expects to offer in its IPO, which could reportedly commence as soon as next month. The company expects a roughly $90 billion valuation, at $44 to $50 per share, raising upward of $10.3 billion in the process.More Uber news: PayPal is investing $500 million into Uber as part of the ride-hailing firm's $90 billion IPOUber is going public at up to $90 billion valuationLong hours, isolating loneliness, and confusing fees: Uber drivers in Washington, DC, are struggling to make ends meetUber has raised $1 billion for its self-driving unit, which is now valued at more than $7 billion