2024-02-08
170
1 minutes.


Uber made its first annual profit of $1.9 billion and reached a market value of $150 billion

The company's shares reached new heights thanks to rising demand for transportation and delivery services, as well as the development of its advertising business.

Uber's growth

Historical achievements

Uber reported net income of $1.9 billion in 2023, after losses in in the amount of $9.1 billion in 2022. Chief Executive Dara Khosrowshahi called the results a breakthrough for the company, highlighting its ability to continue to grow and generate significant profits.

Uber made its first annual profit of 1 9 billion and reached a market value of 150 billion

Stocks rise

Uber shares rose 1% by midday in New York and doubled in value over the past 12 months, reaching $150 billion.

Uber made its first annual profit of 1 9 billion and reached a market value of 150 billion

5 years after failure

According to information from the Financial Times, 5 years have passed since Uber's failed IPO attempt. Since then, the company has been plagued by large losses and doubts about its business model. However, since emerging from the pandemic, Uber has cut costs and its margins have increased.

Glossary

  • Uber - ride-hailing company
  • Lyft - competing ride-hailing company
  • DoorDash - food delivery company

Links

Answers to questions

What areas does the company cover? Has Uber reached new heights?

Uber has reached new heights thanks to growing demand for transportation and delivery services, as well as the development of its advertising business.

What are Uber's historical achievements?

Uber reported net income of $1.9 billion in 2023, after a loss of $9.1 billion in 2022. Chief Executive Dara Khosrowshahi called the results a breakthrough for the company, highlighting its ability to continue to grow and generate significant profits.

What is Uber stock growth?

Over the past 12 months, Uber shares were up 1% by midday in New York and have doubled in value to $150 billion.

How long has it been since Uber's failed IPO attempt?

According to a Financial Times source, 5 years have passed since Uber's failed IPO attempt.

How has Uber dealt with its challenges since emerging from the pandemic?

Since emerging from the pandemic, Uber has cut costs and its margins have grown, allowing the company to overcome past problems.

Copywriter Elbuz
Brief description
After posting its first annual profit and reaching a market value of $150 billion, Uber shares set new highs amid strong demand for its ride-hailing and delivery services, as well as growth in its advertising business.
Article Target
Inform and attract the reader's attention
Style
Information style
Target audience
People interested in economics and technology


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Discussion of the topic – Uber made its first annual profit of $1.9 billion and reached a market value of $150 billion


After posting its first annual profit and reaching a market value of $150 billion, Uber shares set new highs amid strong demand for its ride-hailing and delivery services, as well as growth in its advertising business.


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