'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.
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.