Uber lost at least $1.2 billion in the first half of 2016
 

Uber lost at least $1.2 billion in the first half of 2016
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The ride-hailing giant Uber Tech**logies Inc. is **t a public company, but every three months, dozens of shareholders get on a conference call to hear the latest details on its business performance from its head of finance, Gautam Gupta.*

On Friday, Gupta told investors that Uber's losses mounted in the second quarter. Even in the U.S., where Uber had turned a profit during its first quarter, the company was once again losing money.

In the first quarter of this year, Uber lost about $520 million before interest, taxes, depreciation and amortization, according to people familiar with the matter. In the second quarter the losses significantly exceeded $750 million, including a roughly $100 million shortfall in the U.S., those people said.* Read more...

More about Ride Hailing, Business, and Uberhttp://feeds.feedburner.com/~r/Mashable/~4/MjPrFGniFEQ