Uber's losses increased by over 60 percent in 2017

According to the latest financial figures released by Uber, the ride-hailing firm's losses increased by 61 percent in 2017, up from the year before. Figures reported a loss of $2.8 billion in 2016, but those losses increased to $4.5 billion in 2017. Although an increase in losses should be a cause of concern, it should be noted, Uber's losses narrowed in their forth quarter figures, according to a report in CNBC . Third quarter losses were at an eye watering $1.46 billion but dropped to $1.1 billion in the final quarter. What is significant is that the final quarter figures come during Uber's new CEO, Dara Khosrowshah's first full period. Revenue during that period climbed around 14 percent, from $9 billion to $11.1 billion. Although Uber are not required to disclose financial figures, the company has taken the conscious decision to release such figures in recent months.