Uber, an American digital ride-hailing and delivery services company, announced a 15 percent increase in revenue in the first quarter of this year compared to the same period last year. The company generated $10.13 billion in revenue, with transportation services growing by 29 percent to $5.6 billion and delivery services increasing by four percent to $3.2 billion. Despite this growth, Uber reported a net loss of $654 million, which was three times higher than the previous year due to reduced investments in non-listed stocks. However, adjusted basic profit saw an increase of 82 percent to $1.38 billion.
The number of active users on the platform increased by 15 percent and the number of trips taken by 21 percent during the quarter. The gross value of reservations also saw a significant increase of 20 percent to $37.7 billion, attributed to an increase in trips to airports and offices in the transportation business and new customers and faster delivery times in the service business driving growth. Looking ahead to the second quarter, Uber expects the value of reservations to be between $38.75 and $40.25 billion. CEO Dara Khosrowshahi expressed optimism about the company’s performance and highlighted the strategies that drove growth in both divisions, emphasizing their commitment towards delivering value for their customers and stakeholders alike.
