Uber just shared its financial numbers and it lost $2.8 billion in 2016


FILE PHOTO -  Uber CEO Travis Kalanick speaks to students during an interaction at the Indian Institute of Technology (IIT) campus in Mumbai, India, January 19, 2016. REUTERS/Danish Siddiqui/File photo

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Uber CEO Travis Kalanick

Uber hasn't been able to stop plowing through cash, and the ride-hailing company lost $2.8 billion in 2016, excluding its China business, according to newly-released numbers published in Bloomberg.


Uber released its numbers to the public for the first time ever to show that its sales growth has remained strong even as it entered a tumultuous 2017.

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.

According to Bloomberg, Uber's revenue is "only the portion Uber takes from fares, except in the case of its carpooling service; the company counts the entire amount of an UberPool fare as revenue."


Developing... This story will be updated.

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