(Reuters) – Ride-hailing giant Uber Technologies Inc [UBER.UL] 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.
The company lost about $520 million in the first quarter of the year and another $750 million in the second quarter, Bloomberg said.
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