Uber Posts $2.8 Billion Loss in 2016, Revenue at $6.5 Billion
Ride-hailing service Uber 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."
For the final quarter of 2016, gross bookings increased 28% from the previous quarter, to $6.9 billion. But Uber's losses grew to $991 million in the period, as revenues grew 74% to $2.9 billion from the third quarter.
In a separate emailed...