Uber losses grew to nearly a billion dollars in the first half of 2015 but even with the staggering losses, Uber is on track to record a revenue of $1.5 billion for the full year. This is according to a leaked financials obtained by the Information’s Amir Efrati, reports Business Insider.
The documents say that Uber had lost close to $1 billion in the first half of 2015, up from $671.4 million the year before. Even with increasing losses, its (net) revenue tripled to more than $1.5 billion, and the company had $4.1 billion in cash and cash equivalents in the bank at the end of last June.
The gross revenue from bookings reached $2.1 billion in the second quarter of 2015 and were almost as much as the $2.9 billion shown through all of 2014.
According to the documents, Uber’s net revenue was $495.3 million for FY14, while in the first two quarters of 2015, Uber had already exceeded the previous year’s total, raking in $287.3 and $375.9 million in Q1 and Q2 of 2015 respectively.
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)