Uber booked $20 billion in rides in 2016, but it's still losing billions

Uber hasn't been able to stop plowing through cash, and the ride-hailing company lost $2.8 billion in 2016, excluding its China business, according to newly-released numbers published in Bloomberg. Factoring in its China subsidiary, which it sold in July, the number is likely greater than $3 billion for the year.
Uber released its numbers to the public for the first time ever on Friday to show that its sales growth has remained strong even as it entered a tumultuous 2017. 
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