Uber posts first annual net profit since IPO

24/7 Space News

Uber posts first annual net profit since IPO

Uber posts first annual net profit since IPO
by AFP Staff Writers
San Francisco (AFP) Feb 7, 2024

Ride-hailing giant Uber on Wednesday reported its first annual net profit since the company went public in 2019.

Uber booked a net profit of $1.9 billion in 2023, compared with a loss of $9.1 billion in 2022, according to a statement.

The earnings marked an important milestone for the company, after surviving its tumultuous early years of defying regulators and amassing losses under the stewardship of former CEO and cofounder Travis Kalanick.

"2023 was an inflection point for Uber, proving that we can continue to generate strong, profitable growth at scale," said current CEO Dara Khosrowshahi.

Uber's customer base was "larger and more engaged than ever, with our platform powering an average of nearly 26 million daily trips last year," he added.

Over the full year of 2023, Uber reported $37.3 billion in sales, up 17 percent and beating Wall Street expectations, thanks in part to the growing popularity of its food delivery service.

The company's shares were down slightly in trading on Wednesday, but they have doubled in value in the past year.

Uber said it would make announcements about returning capital to shareholders at its Investor Day on February 14.

lem/arp/nro

Uber

Related Links
Car Technology at SpaceMart.com

Subscribe Free To Our Daily Newsletters

RELATED CONTENT

The following news reports may link to other Space Media Network websites.

Electric cars can't advertise as 'zero emissions': UK body
London (AFP) Feb 7, 2024
Britain's advertising regulator ruled Wednesday that BMW and MG Motors could not claim that their electric vehicles are "zero emissions" because of the environmental impact of their manufacturing and power generation. "We understood that when electric vehicles were driven no emissions were produced," the Advertising Standards Authority wrote about a Google ad for BMW seen in August 2023. "However, in other circumstances, such as the manufacture or charging of an electric vehicle using electricit ... read more

Virgin Galactic Marks 11th Spaceflight with Full Passenger Manifest

Cygnus spacecraft arrives at space station with 8,200 pounds of cargo

NASA's latest experiments aboard ISS aim to boost life in space

China warns US tech curbs will 'come back to bite them'

Ex-staff accuse SpaceX of sexual harassment, discrimination

MITRE and MDC team up to advance at Midland Spaceport

Starlab Partners with SpaceX to Launch Private Space Laboratory into Orbit

Sidus Space's 3D Hybrid satellite 'LizzieSat' ready for launch

Confirmation of ancient lake on Mars builds excitement for Perseverance rover's samples

NASA helicopter's mission ends after three years on Mars

New Year, New images from Perseverance on Mars

Polka Dots and Sunbeams: Sol 4078

BIT advances microbiological research on Chinese Space Station

Shenzhou 18 and 19 crews undertake intensive training for next missions

Tianzhou 6 burns up safely reentering Earth

Yan Hongsen's future dreams as 'Rocket Boy'

Intelsat Launches Inflight Internet Above the Arctic

Into the Starfield

Sidus ships LizzieSat to Vandenberg for upcoming SpaceX launch

Rocket Lab Launches $275 Million Convertible Note Offering for 2029 Maturity

New Data Prep Tool from Spatial to Streamline CAD Workflows

Six recycling innovations that could change fashion

Corning uses neutrons to reveal 'atomic rings' help predict glass performance

Ghana struggling with tsunami of secondhand clothes

UC Irvine-led team unravels mysteries of planet formation and evolution in distant solar system

NASA's Hubble Finds Water Vapor in Small Exoplanet's Atmosphere

TESS finds Super-Earth in habitable zone around nearby red dwarf

NASA Puts Next-Gen Exoplanet-Imaging Technology to the Test

New images reveal what Neptune and Uranus really look like

Researchers reveal true colors of Neptune, Uranus

The PI's Perspective: The Long Game

Webb rings in the holidays with the ringed planet Uranus

Subscribe Free To Our Daily Newsletters

The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.