Leidi.com Lei Jianping August 2
Uber released its earnings report a few days ago. The financial report shows that Uber’s revenue in the first half of 2023 will be US$18.053 billion, an increase of 20.94% from US$14.927 billion in the same period last year.
Uber's net profit attributable to the company in the first half of 2023 was US$237 million, compared with a net loss of US$8.53 billion in the same period last year.
Uber’s revenue in the second quarter of 2023 will be US$9.23 billion, an increase of 14.33% from US$8.073 billion in the same period last year.
Among them, Uber’s revenue from mobility in the second quarter of 2023 was US$4.894 billion, an increase of 38% from US$3.553 billion in the same period of the previous year; revenue from food delivery was US$3.057 billion, an increase of 2.688 billion from the same period last year. billion U.S. dollars, an increase of 14%; revenue from the freight business ($1.279 billion), a decrease of 30% from the U.S. $1.832 billion in the same period last year.
Uber’s operating profit in the second quarter of 2023 was US$326 million, compared with an operating loss of US$713 million in the same period last year; net profit attributable to the company was US$394 million, compared with a net loss of US$2.6 billion in the same period last year.
Uber has been around for 14 years, and the question surrounding Uber has always been: When will it be profitable? The Silicon Valley company's affordable, gig-economy-based ride-sharing service has destroyed traditional taxi businesses everywhere, but has won market share at the cost of losing billions of dollars every fiscal quarter for years.
Therefore, Uber's profitability this time is an important milestone for the company and its chief executive Dara Khosrowshahi (Dara Khosrowshahi). Dara Khosrowshahi, who joined Uber in 2017, has been tasked with turning things around since the ouster of founder and former CEO Travis Kalanick.
Thanks to layoffs and technological improvements in operational efficiency, Uber cut costs and eventually became profitable. Dara Khosrowshahi believes Uber has reached an inflection point and expects to be profitable every quarter from now.
At the same time as the financial report was released, Uber said that its chief financial officer, Nelson Chai, will step down in January 2024. Uber has begun the search for his successor.
Chai joined Uber in 2018 as chief financial officer from the banking and insurance industry.
Chai led several major deals, including Uber's initial public offering in 2019 and its acquisition of food delivery app Postmates in 2020.
However, Uber’s profits still cannot prevent the stock price from falling. As of today’s close, Uber’s share price was US$46.65, a decrease of 5.68% from the previous day; based on the closing price, the company’s market value was US$94.4 billion.
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