Uber lost more than $800 mln in third quarter 2016
Tue Dec 20 2016
Nikki Bailey (1048 articles)

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.

Nikki Bailey

Nikki Bailey

Nikki Bailey reports on US Stocks. She covers also economy and related aspects. She has been tracking US Stock markets for several years now. She is based in New York

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