Uber’s Q1 2024 performance report shows a 20% increase in Gross Bookings compared to the same period last year, amounting to $37.651 billion. Uber’s revenue also saw a 15% rise to $10.131 billion, but the final line shows a loss of $654 million, attributed to tax reversals from investments.
CEO Dara Khosrowshahi emphasized that the past quarter reflects the company’s profit-making capabilities, with the platform now hosting over 7 million service providers generating a combined revenue of over $1.6 trillion.
With 149 million users and 2.572 billion rides, Uber experienced a significant revenue boost in the passenger service sector (+30%), a slight growth in the delivery business (+4%), and a decline in Freight business revenue.
TLDR: Uber’s Q1 2024 report highlights revenue growth and user expansion, despite a minor loss due to tax implications. CEO Dara Khosrowshahi underscores the company’s profit potential and widespread service offerings.
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