Uber Technologies Inc. isn’t required to report its finances publicly, but the privately held company has decided to forgo that luxury for the first time. Uber said its revenue growth is outpacing losses, hoping to show the business is on a strong trajectory as it attempts to address a recent cascade of scandals.
The ride-hailing giant more than doubled gross bookings in 2016 to $20 billion, according to financial information Uber shared with Bloomberg. Net revenue was $6.5 billion, while adjusted net losses were $2.8 billion, excluding the China business, which it sold last summer.
Uber declined to report first-quarter numbers, saying they were in line with expectations but that the company hasn’t yet presented them to investors. The company said it’s pleased to see revenue growth far exceeding losses last year and that its business is still performing well this year even as it faces unyielding controversy. “We’re fortunate to have a healthy and growing… [read more]
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