Report: Uber is on track to top $1.5 billion in revenue this year

Leaked financials obtained by The Information’s Amir Efrati show Uber is facing staggering losses, but it’s nowhere near an existential threat.

Uber lost close to $1 billion in the first half of 2015, up from $671.4 million the year before, according to The Information’s report.

Even with increasing losses, its (net) revenue was on pace to triple to more than $1.5 billion — and it had $4.1 billion in cash and cash equivalents in the bank at the end of last June, documents show.

Gross revenue from bookings topped $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 FY 2014. In the first two quarters of 2015, Uber had already exceeded the previous year’s total, raking in $287.3 million in Q1 of 2015 and $375.9 million in Q2 of 2015.

The Information posted the linked financials here.

Developing….

NOW WATCH: This is how you’re compromising your identity on Facebook

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

sai-us uber