Money Uber just shared its financial numbers and it lost $2.8 billion in 2016

20:05  15 april  2017
20:05  15 april  2017 Source:   Business Insider Australia

Uber's revenue hits $6.5 billion in 2016, still has large loss

  Uber's revenue hits $6.5 billion in 2016, still has large loss  Ride-hailing service Uber Technologies Inc generated $6.5 billion in revenue last year and its gross bookings doubled to $20 billion, the company said on Friday. Its adjusted net loss was $2.8 billion, excluding the operation in China it sold last year, Uber said.As a private company, now worth $68 billion, 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.

Uber hasn’t been able to stop plowing through cash, and the ride-hailing company lost $ 2 . 8 billion in 2016 , excluding its China business, according to newly-released numbers published in Bloomberg.

Uber hasn’t been able to stop plowing through cash, and the ride-hailing company lost $ 2 . 8 billion in 2016 , excluding its China business, according to newly-released numbers published in Bloomberg.

Uber released its numbers to the public for the first time ever. © AAP Image/Lukas Coch Uber released its numbers to the public for the first time ever. Uber hasn't been able to stop ploughing through cash, and the ride-hailing company lost $US2.8 billion in 2016, excluding its China business, according to newly-released numbers published in Bloomberg.

Uber released its numbers to the public for the first time ever to show that its sales growth has remained strong even as it entered a tumultuous 2017.

Here are its key financials for 2016, per Uber's release to Bloomberg:

In the fourth quarter, Uber both increased its bookings and upped its losses, according to the report. Uber's gross bookings rose to $US6.9 billion in Q4, but its losses teetered close to a billion at $US991 million. Uber generated $US2.9 billion in revenue in the fourth quarter alone.

According to Bloomberg, Uber's revenue is "only the portion Uber takes from fares, except in the case of its carpooling service; the company counts the entire amount of an Uber Pool fare as revenue."

Waymo Urges Judge to Bar Uber Engineer From Robocar Project .
(Bloomberg) -- Waymo says it’s uncovered new evidence that Uber Technologies Inc. took and copied its trade secrets and urged a judge to bar the head of the ride-hailing company’s driverless car program from continuing to work on the project. Alphabet Inc.’s Waymo made the request Friday as a federal judge weighs whether to issue a court order that may impede Uber in the race to market autonomous-driving vehicles. U.S.

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