The ride-hailing company posted its Q3 financial results and, well, it was a bit of a mixed bag. Here are the highlights:
- The company lost $1.07 billion in the quarter.
- It says much of that loss was due to the company continuing to invest in new areas such as freight shipments, bicycles, and scooters.
- Still, revenue rose 38% YOY to $2.95 billion.
- Uber made $12.7 billion from gross bookings (the money it makes after paying drivers their cut)–a 41% YOY gain.
Uber is still a private company, so it’s not required by law to disclose its financials. However, as you can see, it chooses to disclose a limited number of metrics each quarter. But all this will change next year if Uber’s much-anticipated IPO happens. If it does, the company could be valued as much as $120 billion–up from the $76 billion it’s currently valued at now, says Reuters.