Uber’s losses are mounting, but its revenues are growing too, according to a new report from Bloomberg’s Ellen Huet and Eric Newcomer.
In Q3 of 2015, Uber lost $697 million — outstripping its $498 million in net revenue, according to the report.
But, if you compare it to figures from previous financial quarters, released by The Information, then it shows Uber’s revenue in Q3 of 2015 eclipsed what it made in all of 2014.
Here’s a recap of the financials:
- Net revenue: In the third quarter of 2015, Uber generated $498 million. That’s more than the $495.3 million it generated in all of 2014, according to The Information. (Net revenue measures the amount of money the company keeps after paying drivers their cut.)
- Losses: Uber lost $697 million in the third quarter of 2015. In 2014, its losses reached $671.4 million.
The $1.7 billion in losses over the first three quarters of 2015 is still staggering against its $1.2 billion in revenue over the same period.
Uber did not respond to a request for comment.