Ride-hail giant Uber lost more than $1 Billion in its first quarter as a public company.

Though the eye-popping figure had been expected by investors, the company also confirmed Wall Street’s fears about slowing growth.

The cash-burning outfit gave investors no indication that profitability is in the foreseeable future — though Chief Executive Dara Khosrowshahi told German newspaper Handelsblatt earlier this week that profitability will come after the next year or two.

Nonetheless, investors brushed off the loss & Uber shares climbed 2.5 percent, to $40.80, in after-hours trading as Khosrowshahi expressed confidence during an earnings call. Shares are still below their IPO price of $45.

Khosrowshahi said that the stock’s poor performance in its public debut should not be a cause for concern, & added that the company will grow more efficient as it continues to expand.

“It is ultimately just one moment in a much larger journey,” he said, adding: “Our teams are very, very motivated to prove Uber’s value to our shareholders.”

The San Francisco.-based company brought in $3.1 billion in revenue — at the high end of its expected range — beating Wall Street’s forecast $3.04 billion & representing a 20 percent year-over-year jump.

Also on the positive side, Uber mentioned decreasing competition from “the other player,” rival Lyft — which went public in March — noting that it “started to see signs of less aggressive pricing.”

Costs were up 35 percent in the quarter for Uber, thanks to discounts & promotions.

Uber said its global monthly active users rose to 93 million, from 91 million, at the end of the fourth quarter.

Lyft shares — which are down nearly 30 percent since its IPO — were up 2.3 percent in extended trading Thursday, at $56.10.

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