Uber lost more than $800 mln in third quarter 2016
Privately held ride-hailing company Uber Technologies Inc lost more than $ 800 million in the third quarter, Bloomberg reported on Monday. The company’s $ 800 million in losses did not include its operations in China, Bloomberg said, citing a person it said was familiar with the matter. (bloom.bg/2hOkH2X)
In the previous quarter the company’s loss significantly exceeded $ 800 million, including its Chinese operations, Bloomberg said. Uber generated about $ 1.7 billion in net revenue in the third quarter, up from $ 1.1 billion in the previous quarter, Bloomberg reported.
The company is on track to surpass $ 5.5 billion in net revenue in fiscal 2016, Bloomberg said. Uber did not immediately reply to a request for comment.
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