Uber released its Q4 2023 performance report, revealing a 22% increase in spending on its consolidated platform or Gross Bookings, amounting to $37,575 million compared to the previous year. This translated into $9,936 million in revenue for Uber, a 15% rise. Ultimately, the company achieved a net profit of $1,429 million, with $756 million being generated from investments.
According to Dara Khosrowshahi, Uber’s CEO, 2023 proved to be a year of strength, profitability, and growth for the company. Uber successfully expanded its customer base and now caters to nearly 26 million people daily who utilize the platform for their travel needs.
Both of Uber’s main business segments, Mobility and Delivery, experienced significant growth in Gross Bookings. Mobility witnessed a remarkable 29% increase, reaching $19,285 million, while Delivery saw a 19% boost, amounting to $17,011 million. On the other hand, the transportation and logistics business observed a 17% decline, totaling $1,279 million.
In summary, Uber’s fourth-quarter results for 2023 showcased substantial growth in its consolidated platform and an increase in revenue. With a net profit driven by strategic investments, the company successfully expanded its user base and witnessed remarkable growth in both Mobility and Delivery segments. However, the transportation and logistics business experienced a slight decline.
TLDR: Uber’s Q4 2023 report highlighted a 22% increase in spending on its consolidated platform, resulting in higher revenue and a net profit. The CEO emphasized the company’s ability to maintain strength, profitability, and growth, with a significant expansion of its customer base. Uber saw impressive growth in Mobility and Delivery segments, while the transportation and logistics business faced a slight decline.
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