Corporate

Uber loses over $800m in 3rdQ of 2016

Reuters .
A photo illustration shows the Uber app logo displayed on a mobile telephone, as it is held up for a posed photograph in central London, Britain. Reuters file photo
A photo illustration shows the Uber app logo displayed on a mobile telephone, as it is held up for a posed photograph in central London, Britain. Reuters file photo

Privately held ride-hailing company Uber Technologies Inc [UBER.UL] 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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