Ride-sharing company Uber’s net profit rose 140 percent in the last quarter of 2023 compared to the previous year. The company has achieved this growth due to increase in gross bookings. News The National.
In the last quarter of 2023, the net income of the company was 1.4 billion dollars. It was 595 million dollars in the same period of the previous year. In addition, the operating income stood at 652 million dollars. The company faced a loss of $142 million during the same period last year.
California-based Uber’s fourth-quarter revenue rose 15 percent year over year to more than $9.9 billion. Although the analysts forecast was 9.7 billion dollars.
According to the report, the net profit of Uber in the fiscal year 2023 was 1.9 billion dollars. In the January to December period, the income increased by 17 percent to 37.29 billion dollars.