Uber still losing billions though revenues increase

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By Euronews
Uber still losing billions though revenues increase

<p>The ride-hailing company Uber continues to hemorrhage money. </p> <p>No official figures have been released by the privately held firm, but sources tell news organisations that between July and September it lost more than $800 million (772 million euros).</p> <p>Uber is in a price war with rival Lyft in the US and has also been spending heavily on things like experimental self-driving cars </p> <p>For the first nine months of this year it lost well over $2.2 billion (2.12 billion euros). </p> <p>However net revenue – the amount of money from fares – continues to rise. It was reportedly $1.7 billion in the third quarter an increase from $1.1 billion between April and June.</p> <p>The third quarter losses do not include Uber’s Chinese operation. It had to withdraw from the country in August selling out to rival Didi Chuxing but receiving a 5.89 percent stake in Didi and $1 billion in the deal. </p> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Uber’s growth, revenue, and losses are back in the news. Here’s what you need to know. <a href="https://t.co/dUYqT6hZbb">https://t.co/dUYqT6hZbb</a> via <a href="https://twitter.com/Mattermark"><code>mattermark</a></p>&mdash; Smith&Co ⚖ ™ (</code>Justica4all) <a href="https://twitter.com/Justica4all/status/805935094007472129">December 6, 2016</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>