Uber, the ride-hailing company, lost $2.8 billion in 2016, excluding its China business, according to newly-released numbers published in Bloomberg and reported on by Business Insider this week. Factoring in its China subsidiary, which it sold in July, the number is likely greater than $3 billion for the year.
Here are its key financials for 2016, per Uber’s release to Bloomberg:
- Gross bookings: $20 billion (double its 2015 numbers)
- Net revenue: $6.5 billion (excluding China)
- Adjusted net losses: $2.8 billion
In the fourth quarter, Uber both increased its bookings and upped its losses, according to the report. Uber’s gross bookings rose to $6.9 billion in Q4, but its losses teetered close to a billion at $991 million. Uber generated $2.9 billion in revenue in the fourth quarter alone.
Uber’s loss statement also “doesn’t account for employee stock compensation, certain real-estate investments, automobile purchases and other expenses.” Read at Business Insider.