Uber Loses at Least $1.2 Billion in First Half of 2016
After touting profitability in the U.S. early this year, the ride-hailing company is said to post second-quarter losses exceeding $100 million.
Uber Said to Lose $1.2 Billion in First Half 2016
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The ride-hailing giant Uber Technologies Inc. is not a public company, but every three months, dozens of shareholders get on a conference call to hear the latest details on its business performance from its head of finance, Gautam Gupta.
On Friday, Gupta told investors that Uber's losses mounted in the second quarter. Even in the U.S., where Uber had turned a profit during its first quarter, the company was once again losing money.