Uber lost a whopping $1.27 billion in the first half of 2016
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 finances.
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.
Bloomberg had previously reported that, by some measures, the company was profitable in the US in the first quarter. This isn't the case anymore, according to Bloomberg, which says Gupta told investors that Uber lost money in the US in Q2.
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