The quarter two results of Uber highlight a revenue of 14 percent. Uber reported a net income of $394 million, or 18 cents per share. In the same quarter last year, Uber recorded a net loss of $2.6 billion, or $1.33 per share.
Total gross booking for the quarter was $33.6 billion, up 16 per cent year on year. Uber says it expects to do gross bookings between $34 billion and $35 billion in the third quarter. The adjusted EBITDA of Uber was up by 152 per cent to $916 million year on year. Uber also expects its adjusted EBITDA to remain between $975 million to $1.5 billion for the third quarter.
In a prepared statement, CEO Dara Khosrowshahi said the ride-hailing company achieved two major milestones during the quarter: its first quarter of free cash flow of over $1 billion and its first GAAP operating profit.
However, the freight business suffered a loss. Total revenue collected from bookings in the freight business was reported at $1.28 billion, down from $1.83 billion collected in the same quarter last year. Uber completed 2.3 billion trips worldwide during Q2. The total number of monthly active users was also up by 12 per cent to 137 million in Q2.
© Copyright 2023. All Rights Reserved Powered by Vygr Media.
