Uber losing millions of dollars, documents reveal

Leak confirms taxi-app firm's losses growing faster than revenues as it invests in future growth

Taxi-app Uber is losing millions of dollars every year, despite the company's rapid growth and international notoriety, according to documents obtained by US news site Gawker.

The financial reports, which span Uber's history from the beginning of 2012 to the second half of 2014, show the company's revenue rising from just $1.4m a quarter to almost $57m in just over two years. But in the same period, the company's overall profits, taking into account all of its expenses, fall from a loss of $3.5m to a loss of $108.8m in the second quarter of 2014.