Tuesday, December 20, 2016

Uber's Loss Exceeds $800 Million in Third Quarter on $1.7 Billion in Net Revenue - Bloomberg

Tbd if its valuation will exceed its current $69B as it loses more...

"Even as Uber Technologies Inc. exited China, the company's financial loss has remained eye-popping. In the first nine months of this year, the ride-hailing company lost significantly more than $2.2 billion, according to a person familiar with the matter. In the third quarter, Uber lost more than $800 million, not including its Chinese operation.

At the same time, the company's revenue has continued to grow even after leaving the world's most populous country. Uber generated about $3.76 billion in net revenue in the first nine months of 2016 and is on track to exceed $5.5 billion this year, said the person, who asked not to be identified because the information is private."
Uber's Loss Exceeds $800 Million in Third Quarter on $1.7 Billion in Net Revenue - Bloomberg
Post a Comment