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  Business   Companies  20 Dec 2016  Uber lost more than $800 million in Q3 2016

Uber lost more than $800 million in Q3 2016

REUTERS
Published : Dec 20, 2016, 8:09 am IST
Updated : Dec 20, 2016, 8:09 am IST

The company is on track to surpass $5.5 billion in net revenue in fiscal 2016.

 Uber generated about $1.7 billion in net revenue in the third quarter, up from $1.1 billion in the previous quarter.
  Uber generated about $1.7 billion in net revenue in the third quarter, up from $1.1 billion in the previous quarter.

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.

Tags: uber, loss, revenue, shares, bloomberg