Uber reports first quarterly operating profit in Q2 2023 results

Uber has reported an operating profit during a fiscal quarter for the first time in its history. The company reported its second quarter earnings for 2023 [PDF] on Tuesday morning, which included a net income of $394 million for the quarter, up $1.0 billion year-over-year and $588 million versus the preceding quarter. The company attributed its net gain to a 22% increase in trips on the platform, combined with “cost discipline” according to CEO Dara Khosrowshahi.
Uber said it saw gross bookings grow 16% year-over-year in terms of revenue, and that trips reached an average of 25 mil

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