Uber is facing huge financial losses; as of this writing, the company was on track to lose some $3 billion by the end of 2016. In the third quarter of 2016, Uber lost more than $800 million, not including the company’s Chinese operation, which ended.

Uber has also seen its revenue grow; it generated about $3.76 billion in net revenue in the first nine months of 2016, putting it on track to exceed $5.5 billion for the year, according to a report by Bloomberg. Uber’s valuation has leapt to $69 billion, which makes it more valuable than General Motors Co.

Uber’s net revenue — the money left after it pays expenses, like driver fees — was $1.7 billion in the third quarter of 2016, a growth from $1.1 billion in the second quarter and $960 million in the first, the report says.

Lyft, Uber’s closest competitor, made promises to investors to keep its losses below $150 million a quarter.