Uber lost R11 billion in third quarter of 2016

Uber lost more than $800 million (more than R11 billion) in the third quarter of 2016, according to Bloomberg.

The company doesn’t make its results known publically.

However, Bloomberg quoted someone familiar with Uber’s results.

The ride sharing firm should exceed $5.5 billion (R77 billion) in revenue for the year.

Uber is valued at $69 billion (R969 billion).

That’s more than the combined value of General Motors and Twitter.

For more detail listen to the audio below.

(Click here for more from Bruce Whitfield's The Money Show.)

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on CapeTalk : Uber lost R11 billion in third quarter of 2016


Recommended

by THE NEWSROOM
Read More
Sona debate was 'long, productive and cordial'

Sona debate was 'long, productive and cordial'

The Money Show’s Bruce Whitfield interviews EWN Parliamentary Reporter Lindsay Dentlinger.

Spending too much? Our brains suck at money stuff. Here’s how to train it…

Spending too much? Our brains suck at money stuff. Here’s how to train it…

Bruce Whitfield interviews Dan Ariely, co-author of "Dollars and Sense: How We Misthink Money and How to Spend Smarter".

Pick these 3 stocks right now, make a killing (by Sasfin Securities)

Pick these 3 stocks right now, make a killing (by Sasfin Securities)

These are the three best shares to buy right now, says stockbroker and portfolio manager Nesan Nair.

Ford to take on Uber with fully autonomous (i.e. self-driving) cars

Ford to take on Uber with fully autonomous (i.e. self-driving) cars

The Money Show’s Bruce Whitfield interviews Mark Smyth, Editor of Motor News Business Day.

Uber is the epitome of urban-convenience. It’s also a way for you to make money

Uber is the epitome of urban-convenience. It’s also a way for you to make money

The Money Show's Bruce Whitfield interviews a man who owns a number of cars which operate as Uber taxis.

Uber-like same day delivery service PicUp partners with TomTom

Uber-like same day delivery service PicUp partners with TomTom

Innovative logistics company PicUp has partnered with TomTom Africa to revolutionise the concept of same-day delivery.

Popular articles
Minister Zwane confirms trips to Dubai and Switzerland

Minister Zwane confirms trips to Dubai and Switzerland

EWN parliamentary correspondent Gaye Davis says Mineral Resources Minister Mosebenzi Zwane received detailed and tough questions.

Zweli Mkhize 'taken by surprise' with latest cabinet reshuffle

Zweli Mkhize 'taken by surprise' with latest cabinet reshuffle

The ANC treasurer-general confirmed Mantashe’s comments that the President did not consult the ANC leadership on the reshuffle.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

[CARTOON] Poephol With a Taste For Strife

[CARTOON] Poephol With a Taste For Strife

EWN's Dr Jack & Curtis take a look at the Spur confrontation that has taken the country by a storm.

‘My worst fear is being 80 years old and poor’ – famed actor Dr. John Kani

‘My worst fear is being 80 years old and poor’ – famed actor Dr. John Kani

"My earliest memory of money is my father saying, ‘Why do you want to do this thing? How are you going to feed the family?'"

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

5 advantages of leasing instead of owning a car (lower monthly payments!)

5 advantages of leasing instead of owning a car (lower monthly payments!)

Want (or need) a new car? Dale Scorer (a wealth manager at AlphaWealth) reckons you should consider leasing.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...