Uber Lost More Than $800 Million in the Third Quarter of 2016
In the previous quarter the company’s loss significantly exceeded $800 million, including its Chinese operations.
This story originally appeared on Reuters
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.
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.
(Reporting by Gaurika Juneja in Bengaluru; Editing by Bill Rigby)
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.
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.
(Reporting by Gaurika Juneja in Bengaluru; Editing by Bill Rigby)
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