Originally Posted by
Rollfast
They're in the hole pretty good anyway.
Uber lost at least $1.27 billion in the first half of 2016, according to Bloomberg's Eric Newcomer, who cites people familiar with the matter.
Bloomberg reports that Uber held a conference call with investors Friday, led by finance head Gautam Gupta, to discuss Uber's financial situation.
In the first quarter of 2016, Uber lost $520 million ("before interest, taxes, depreciation and amortization"). In the second quarter, the situation worsened, and Uber's losses topped $750 million. That means Uber's total losses are at least $1.27 billion for the first half of the year.
While these losses are staggering, they are mostly consistent with previous reports. Uber lost close to $1 billion in the first half of 2015.
Uber 2016 losses exceed $1 billion - Business Insider