Ride-hailing company reaches long-awaited landmark after years of heavy spending via IrishTimesBiz
By contrast, for the second quarter of this year, it reported $326 million in pretax earnings from its operations, a turnaround from the operating loss of $713 million suffered a year before.
Chief executive Dara Khosrowshahi said the company’s move to profitability, as well as its quarterly free cash flow of more than $1 billion, reflected “disciplined execution, record audience and strong engagement.” The results show how Uber has proved to be more resilient to high inflation and economic uncertainty compared with its rivals.
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