Ride-hailing giant Uber lost at least $1.27 billion before interest, taxes, depreciation and amortization in the first six months of 2016, Bloomberg reported on Thursday, citing people familiar with the matter.
The subsidies Uber grants its drivers was the main reason for the loss, finance head Gautam Gupta told investors in a quarterly conference call, Bloomberg said, citing sources.
Uber, whose investors include Goldman Sachs and Amazon Chief Executive Jeff Bezos, could not immediately be reached for comment.
