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Uber said to lose at least $800 million in third quarter

December 26, 2016

By GregBensinger: marketwatch – excerpt

Uber Technologies Inc. continued to grow sales but also continued to lose money in the third quarter, according to people familiar with its results, which could cool for now any chances for its hotly-anticipated an initial public offering.

The ride-hailing company lost at least $800 million in this year’s third quarter, not including certain items like taxes, interest and the results of its China business, which it sold in the period, the people said. Uber boosted sales to $1.7 billion in the quarter, from $1.1 billion in the second quarter, the people said. News site The Information reported the results earlier Monday.

Uber, a closely held company valued around $68 billion, doesn’t disclose financial results publicly. It held a call with investors last week to discuss its results… (more)

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Uber’s robot cars move in, and the homeless must move along: Security guards working at Uber’s San Francisco facility for self-driving cars dismantle a nearby tent city, according to homeless people who were displaced…(more)

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