At the same time, the company's revenue has continued to grow even after leaving the world's most populous country. Uber generated about US$3.76 billion in net revenue in the first nine months of 2016 and is on track to exceed US$5.5 billion this year, said the person, who asked not to be identified because the information is private.
Uber, a closely held company based in San Francisco, has stayed mum about its financial performance even as its valuation has soared to US$69 billion, making it more valuable on paper than General Motors Co and Twitter Inc combined.
Uber's bookings-the total combined value of the fares that riders pay-were US$5.4 billion in the third quarter, an increase from US$5 billion in the second quarter and US$3.8 billion in the first, according to the person.
The slowdown in Uber's bookings growth can at least partially be explained by the company's decision to leave China. Uber said on Aug 1 that it came to an agreement with Didi Chuxing to exit China in exchange for 17.5 per cent of the Chinese company. As part of the deal, Didi invested US$1 billion in Uber. Uber's third-quarter financials don't include the business in China, which were part of the previous quarterly results.
Net revenue - the amount of money Uber generates after it pays its drivers - was US$1.7 billion in the third quarter, growing from US$1.1 billion in the second quarter and US$960 million in the first, according to the person.
Uber's financials have leaked in dribs and drabs. The third-quarter numbers were reported earlier by the technology news site The Information. Bloomberg previously reported Uber's financial performance in the first half of this year. A spokesman for Uber declined to comment.
The company is said to have lost at least US$2 billion last year and is on track to pile up a loss of at least US$3 billion this year. Those are rough figures that may underestimate how much money Uber is losing and don't include interest, taxes or stock-based compensation.