Uber Loses $1.27 Billion in First Half of 2016

Ride-hailing giant Uber has reported losses totalling $1.27 billion for the first half of 2016 operating year.

 The company lost about $520 million in the first quarter of the year and another $750 million in the second quarter, Bloomberg said.

The 7-year-old company, which is now valued at roughly $69 billion, lost at least $2 billion in 2015, the report said.