Uber, a leading digital ride-hailing and delivery services company based in the US, announced impressive revenue growth for the first quarter of this year. The company reported a significant increase in users and trips within the initial three months, resulting in a 15% rise in revenue compared to the same period last year. This growth brought Uber’s revenue to $10.13 billion, with transportation services accounting for $5.6 billion and delivery services contributing $3.2 billion.
Despite this growth, Uber ended the quarter with a net loss of $654 million – three times higher than the previous year. However, adjusted basic profit surged by 82% to $1.38 billion, while the gross value of reservations increased by 20% to $37.7 billion. The CEO of Uber, Dara Khosrowshahi, attributed this growth in transportation services to an increase in trips to airports and offices and faster delivery times for service business growth from new customers.
Moving forward into the second quarter, Uber expects the value of reservations to be in the range of $38.75 to $40.25 billion as it continues its efforts to grow its user base and improve its services further