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.

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