Uber finally turns a profit after 14 years
Ehailing giant Uber has reported its first-ever operating profit after 14 years of operations.
After its initial launch 14 years ago in March 2009, the first ride-sharing platform in the world has finally turned a profit. On Tuesday, Uber posted its second quarter of 2023 results, and while its gains were modest compared to other firms in the tech world, such asThat being the ability to make money. Uber announced that it made an income for the quarter of $326 million, compared to a loss of $713 million the previous quarter.
“Robust demand, new growth initiatives, and continued cost discipline resulted in an excellent quarter, with trips up 22 percent and a GAAP operating profit, for the first time in Uber’s history,” said Dara Khosrowshahi, chief executive at the platform.
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