Uber’s income hits $6.5 billion in 2016, still has vast loss

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Ride-hailing use Uber Technologies Inc [UBER.UL] generated $6.5 billion in income final year and a sum bookings doubled to $20 billion, a association pronounced on Friday.

Its practiced net detriment was $2.8 billion, incompatible a operation in China it sole final year, Uber said.

As a private company, now value $68 billion, Uber does not news a financial formula publicly. It reliable a total in an emailed matter after Bloomberg reported a results.

Uber did not yield initial entertain figures, though a mouthpiece pronounced they “seem to be in line with expectations.”

For a final entertain of 2016, sum bookings increasing 28 percent from a prior quarter, to $6.9 billion. But Uber’s waste grew to $991 million in a period, as revenues grew 74 percent to $2.9 billion from a third quarter.

In a apart emailed statement, Rachel Holt, Uber’s informal ubiquitous manager for a United States and Canada, said: “We’re advantageous to have a healthy and flourishing business, giving us a room to make a changes we know are indispensable on government and accountability, a enlightenment and organization, and a attribute with drivers.”

Uber has been rocked by a series of setbacks lately, including minute accusations of passionate nuisance from a former womanlike worker and a video display Chief Executive Travis Kalanick cruelly berating an Uber driver.

The association is in a routine of employing a arch handling officer to assistance Kalanick conduct it, correct a tarnished picture and urge a culture.

Two of Uber’s high-level executives recently pronounced they dictated to leave, and final week a company’s communications conduct announced her departure.

(Reporting by Sangameswaran S in Bengaluru; Editing by Bill Rigby and Dan Grebler)

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