Uber's 3Q loss exceeds $800 million

Uber has lost big over the first nine months of 2016. The ride-hailing giant is down $2.2 billion and in the third quarter alone, Uber dropped $800 million, not including its Chinese operation. Despite that, Uber piled up $3.76 billion in net revenue over the first nine months of 2016 and is projected to exceed $5.5 billon by the end of the year. Part of Uber's losses may be explained by the company's decision to leave China after the company came to an agreement with Didi Chuxing in exchange for 17.5 percent of their company. Didi also invested $1 billion in Uber as part of the deal.