Chitchat Uber Lost US$800M In Q3! Guess When It Will Declare Bankruptcy?

[JohnTan]

(Reuters) - Privately held ride-hailing company Uber Technologies Inc [UBER.UL] lost more than $800 million in the third quarter, Bloomberg reported on Monday.

The company's $800 million in losses did not include its operations in China, Bloomberg said, citing a person it said was familiar with the matter. (http://bloom.bg/2hOkH2X)

In the previous quarter the company's loss significantly exceeded $800 million, including its Chinese operations, Bloomberg said.

Uber generated about $1.7 billion in net revenue in the third quarter, up from $1.1 billion in the previous quarter, Bloomberg reported.

The company is on track to surpass $5.5 billion in net revenue in fiscal 2016, Bloomberg said.

Uber did not immediately reply to a request for comment.

(Reporting by Gaurika Juneja in Bengaluru; Editing by Bill Rigby)

https://sg.news.yahoo.com/uber-lost-more-800-million-third-quarter-2016-012650755--finance.html

 

[whorejinx]

Don't worry, TemaSEX will dump more billions of your CPF inside. HUAT AH!

 

[JohnTan]

Don't worry, TemaSEX will dump more billions of your CPF inside. HUAT AH!

That would be good. I would hate to lose my favourite Uber driver.

 

[whorejinx]

That would be good. I would hate to lose my favourite Uber driver.

 

[cocobobo]

its a race to the bottom for grab, uber and the like.

its all good for commuters like me, unless temasek put my cpf money into it.

but I'm sure they're smart enough not to. I mean they're run by scholars, high IQ ivy league grads.

they didn't, right?

errr....right guys?

 

[frenchbriefs]

800m is a small price to pay for world domination.from taxis they will go on to conquer healthcare,insurance,FNB, hospitality,medicine,weapons technology and bioengineering to clone warfare.one day Uber will be the New World Order.when historians asked where did Uber came about,they will say it began with taxis.

 

[frenchbriefs]

these private capitalists are smart,they know if they ever need to raise more money or cash out on their investment they can simply ipo the company to public investors,UBER will be worth more than tesla,alibaba,microsoft,apple,amazon,snapchat,facebook combined.the founders of uber will retire trillionaires.they know people are hungry for another stock market bubble,another dot com boom,another miracle stock to pump hundreds of billions into,whens the last time the stock market crashed?years?millenniums?

 

[congo9]

800m is a small price to pay for world domination.from taxis they will go on to conquer healthcare,insurance,FNB, hospitality,medicine,weapons technology and bioengineering to clone warfare.one day Uber will be the New World Order.when historians asked where did Uber came about,they will say it began with taxis.

For this i agree. Losing 800 million for World domination is a small price you have to pay.

 

[AsiaDK]

For this i agree. Losing 800 million for World domination is a small price you have to pay.

They lost over US$2bio in the first 9 months of the year. Their losing is in overdrive mode. It is like they are like the biggest loser in the world.