Uber has reported its Q4 2023 earnings, with an increase of 22% in gross bookings on its platform, totaling $37.575 billion. This translates to revenue of $9.936 billion, a 15% increase, and a net profit of $1.429 billion, with a $756 million return on investments.
Dara Khosrowshahi, Uber’s CEO, stated that 2023 was a year of strength, profitability, and growth for the company. Uber has been able to expand its customer base significantly, with nearly 26 million people using the platform for their daily transportation needs.
Both of Uber’s core businesses experienced high growth in gross bookings. The Mobility segment saw a 29% increase, reaching $19.285 billion, while the Delivery segment grew by 19% to $17.011 billion. However, the Freight business saw a decline of 17% to $1.279 billion.
In summary, Uber’s Q4 2023 results have shown significant growth and profitability, with increased gross bookings, revenue, and net profit. Despite challenges in the Freight business, Uber has successfully maintained its strength and expanded its customer base.
TLDR: Uber’s Q4 2023 earnings revealed a 22% increase in gross bookings, resulting in a revenue of $9.936 billion and a net profit of $1.429 billion. CEO Dara Khosrowshahi highlighted the company’s strength, profitability, and customer base expansion. The Mobility and Delivery segments experienced significant growth, while the Freight business faced a decline in revenue. Overall, Uber’s Q4 2023 performance showcases its growth and success.
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