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'Uber lost over $800m in third quarter 2016'

According to Bloomberg the privately held ride-hailing company’s $800 million in losses did not include its operations in China.

FILE: The online ride-hailing service Uber. Picture: Reinart Toerien/EWN.

BENGALURU - 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.

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