Uber loses $2.2bn this year despite revenue boost


Trouble ahead for the reide-hailing service

Uber has recorded a loss over $2.2bn (£1.77bn) in the first nine months of the year, new figures show.

The big loss comes despite the San Francisco-based firm’s revenues surging.

According to Bloomberg, Uber has lost $800m in the third quarter – this figure ballooned to over $2.2bn for the first nine months of the year.

The losses came despite its nine-month revenues surging from $3.76bn to $5.5bn, the reports said.

After making payments to drivers, Uber saw its revenue hit $1.7bn in the third quarter, up from $1.1bn in the previous three-month period.

Earlier this year, the San Francisco-based firm was valued at more than $65bn in a $12.5bn fundraising effort.