Thursday August 25, 2016

Uber Loses at Least $1.2B in First Half of 2016

How does a company like Uber continue to lose money like this and stay in business? An even bigger question is how does a company that consistently posts record losses have a $70 billion valuation? I guess Uber can continue this trend as long as people keep investing billions. confused

In the first quarter of this year, Uber lost about $520 million before interest, taxes, depreciation and amortization, according to people familiar with the matter. In the second quarter the losses significantly exceeded $750 million, including a roughly $100 million shortfall in the U.S., those people said. That means Uber's losses in the first half of 2016 totaled at least $1.27 billion.