Uber losses expected to hit $3 billion in 2016 despite revenue growth

FILE - In this Dec. 16, 2015 file photo a man leaves the headquarters of Uber in San Francisco. Uber and advocates for the blind have reached a lawsuit settlement in which the ride-hailing company agrees to require that existing and new drivers confirm they understand their legal obligations to transport riders with guide dogs or other service animals. The National Federation of the Blind said Saturday, April 30, 2016, that Uber will also remove a driver from the platform after a single complaint if it determines the driver knowingly denied a person with a disability a ride because the person was traveling with a service animal. (AP Photo/Eric Risberg, File) Uber’s losses are growing from $2.2 billion last year to an expected $3 billion this year, according to multiple reports this week from The Information and others. It’s hard to fathom Uber operating so far from profitability at a time when it feels like an established mainstream brand on the global stage. Hip hop stars like Drake or Wiz Khalifa commonly name check… Read More

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