Uber’s Losses Grow, But So Do Its Profit Projections
Uber’s losses grew to nearly a billion dollars in the first half of last year, nearly 50% more than its full-year losses in 2014, according to confidential documents issued by the company as part of financing efforts last year. Net revenue in the first half of 2015 was $663 million, the documents showed. (Scroll down to see the documents.)
The rising losses reflect expansion efforts in places like China and India. But the company expects older markets in developed countries to generate billions of dollars in profit in the coming years, according to a person familiar with Uber’s thinking.