Uber posted a net profit of $1.9 billion in 2023, compared to a loss of $9.1 billion in 2022, according to a statement.
The profits marked a major milestone for the company, after surviving its tumultuous first years defying regulators and racking up losses under former CEO and co-founder Travis Kalanick.
“2023 was a turning point for Uber, demonstrating that we can continue to deliver strong, profitable growth at scale,” said current CEO Dara Khosrowshahi.
Uber’s customer base was “bigger and more engaged than ever, and our platform powered an average of nearly 26 million trips daily last year,” he added.
For all of 2023, Uber reported $37.3 billion in sales, an increase of 17%, and beat Wall Street expectations, thanks in part to the growing popularity of its food delivery service.
The company’s shares fell slightly in trading Wednesday, but 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.
Source: With information from AFP
