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Ride-hailing giant Uber Technologies Inc. posted losses of at least $1.27 billion during the first half of the year, people familiar with the matter told Bloomberg.

Uber is not a public company, but every three months, dozens of shareholders get on a conference call to hear the latest details on its business performance from its head of finance, Gautam Gupta.

On Friday, Gupta told investors that Uber's losses mounted in the second quarter. Even in the U.S., where Uber had turned a profit during its first quarter, the company was once again losing money.



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