Uber’s revenue hits $6.5bn in 2016, still has large loss
Ride-hailing service now worth $68bn, Uber does not report its financial results publicly, but confirmed figures in a statement
Ride-hailing service Uber Technologies Inc generated $6.5bn in revenue last year and its gross bookings doubled to $20bn, the company said on Friday. Its adjusted net loss was $2.8bn, excluding the operation in China it sold last year, Uber said. As a private company, now worth $68bn, Uber does not report its financial results publicly. It confirmed the figures in an emailed statement after Bloomberg reported the results. Uber did not provide first quarter figures, but a spokeswoman said they “seem to be in line with expectations.” For the final quarter of 2016, gross bookings increased 28% from the previous quarter, to $6.9bn. But Uber’s losses grew to $991m in the period, as revenues grew 74% to $2.9bn from the third quarter. In a separate emailed statement, Rachel Holt, Uber’s regional general manager for the United States and Canada, said: “We’re fortunate to have a healthy and growing business, giving us the room to make the changes we know are needed on management and accounta...
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