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Uberís loss in the third quarter exceeded $800 million



The adjusted Uberís loss amounted to $800 million in the third quarter of 2016, as reported by Financial Times with reference to sources.



20.Dec.16 8:43 AM
By Anna Tuzova
Photo Toinnov.com

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Uberís loss in the third quarter exceeded $800 million
The adjusted Uberís loss amounted to $800 million in the third quarter of 2016, as reported by Financial Times with reference to sources.

The magazine points out that Uber is not a public company, and therefore arenít releasing the financial report. At the same time the CFO Gautam Gupta makes report for shareholders quarterly via TV-conference.

The taxi service lost 2,2 billion USD in nine months in 2016, by the end of the year the losses may grow to 3 billion dollars, according to Bloomberg.

At the same time Uberís revenue continues growing Ė in a period from January to September it reached the mark of $3,77 billion, according to the results of the whole year it expect to receive $5,5 billion.

In the third quarter the total proceeds from all clientsí rides reached $5,4 billion, having grown from 5 billion in the second and 3,8 in the first, according to the source. After salary payments the company got $1,7 billion in the third quarter ($1,1 billion in the 2nd, $960 million in the 1st).

Uber has sold itsí Chinese branch to a local Taxi startup Didi Chuxing in September 2016. The Chinese company took over the American and provided 20 per cent of the startupís shares, according to the terms of contract.

Uber is the international company, which develops mobile apps specialized on Taxi requests, providing itsí services over than in 530 cities in almost 70 countries. 



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