{"id":1261622,"date":"2023-08-03T09:03:37","date_gmt":"2023-08-03T03:33:37","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1261622"},"modified":"2023-08-03T09:08:10","modified_gmt":"2023-08-03T03:38:10","slug":"1st-time-ever-uber-books-profit-rs-3000-crore-profits-in-q2-2023-after-14-years","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/1st-time-ever-uber-books-profit-rs-3000-crore-profits-in-q2-2023-after-14-years\/","title":{"rendered":"1st Time Ever, Uber Books Profit: Rs 3000 Crore Profits In Q2 2023 After 14 Years!"},"content":{"rendered":"\n<p>After the cold winters of struggles, the ride-hailing service, Uber, is moving ahead of its loss-making startup stage and starting to make progress on its profitability goals.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"465\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Untitled-design-4-4.png\" alt=\"1st Time Ever, Uber Books Profit: Rs 3000 Crore Profits In Q2 2023 After 14 Years!\" class=\"wp-image-1261630\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Untitled-design-4-4.png 1000w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Untitled-design-4-4-300x140.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Untitled-design-4-4-768x357.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p><strong>Uber Records First-ever Profit In Its History&nbsp;<\/strong><\/p>\n\n\n\n<p>The same is confirmed when the company posted a surprise profit in the second quarter (Q2) of 2023.&nbsp;<\/p>\n\n\n\n<p>This achievement holds a great significance as this is Uber\u2019s first recorded profit as a public company.&nbsp;<\/p>\n\n\n\n<p>In coming times, the American transportation conglomerate expects its profits to rise further due to the fact that traveling is increasing and return-to-office working patterns are also getting back to normal.<\/p>\n\n\n\n<p>Uber generated a gross profit of $394 million in Q2 2023, as per a media <a href=\"https:\/\/timesofindia.indiatimes.com\/gadgets-news\/uber-records-first-ever-profit-in-companys-history\/articleshow\/102319103.cms\">report<\/a>.<\/p>\n\n\n\n<p>Besides this, the company also recorded free-cash-flow of $1.14 billion.&nbsp;<\/p>\n\n\n\n<p>The news of the profit has also affected the company\u2019s shares as its prices rose about 3.7%.<\/p>\n\n\n\n<p>Further, the company\u2019s net revenue in Q2 2023 was $9.23 billion which was 14.4% more than the revenue in Q2 2022.&nbsp;<\/p>\n\n\n\n<p>Uber\u2019s gross bookings have also increased by 16% to $33.6 billion during the same time period.&nbsp;<\/p>\n\n\n\n<p>In the meantime, the company\u2019s rides revenue rose 25% to $16.73 billion and delivery income rose 12% to $13.88 billion.<\/p>\n\n\n\n<p><strong>Strong Driver and Courier Engagement<\/strong><\/p>\n\n\n\n<p>\u201cRobust demand, new growth initiatives, and continued cost discipline resulted in an excellent quarter, with trips up 22% and a GAAP operating profit, for the first time in Uber\u2019s history. These results also translated into strong driver and courier engagement, with 6 million drivers and couriers earning a record $15.1 billion during the quarter. Both of these milestones were achieved through a combination of disciplined execution, record audience, and strong engagement. Uber is well-positioned to sustain strong, incremental profit generation,\u201d said Dara Khosrowshahi, Uber CEO.<\/p>\n\n\n\n<p>In another development, the company has announced that chief financial officer Nelson Chai is stepping down on January 5.&nbsp;<\/p>\n\n\n\n<p>Apparently, Uber seems to be searching for his replacement presently.<\/p>\n\n\n\n<p>Earlier, Chai said, \u201cWhen I joined the company in 2018, Dara asked me to lead the financial transformation of the company. As you can see from our Q2 results, that transformation has occurred. I am very proud of the great work we have all accomplished and thank Dara for his partnership,\u201d in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After the cold winters of struggles, the ride-hailing service, Uber, is moving ahead of its loss-making startup stage and starting to make progress on its profitability goals.&nbsp; Uber Records First-ever Profit In Its History&nbsp; The same is confirmed when the company posted a surprise profit in the second quarter (Q2) of 2023.&nbsp; This achievement holds [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":1261630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[111],"class_list":["post-1261622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-uber"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>1st Time Ever, Uber Books Profit: Rs 3000 Crore Profits In Q2 2023 After 14 Years! 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