Uber, an American digital ride-hailing and delivery services company, announced strong revenue growth in their latest report. Despite facing a net loss of $654 million, the company saw a 15 percent increase in revenue in the first quarter of this year compared to the same period last year, totaling $10.13 billion.
Revenue from transportation services grew by 29 percent to $5.6 billion, while revenue from delivery services increased by four percent to $3.2 billion. The number of active users on the platform increased by 15 percent and the number of trips taken by 21 percent, reflecting the growing popularity of Uber’s services.
Despite these positive results, Uber reported a net loss of $654 million due to reduced investments in non-listed stocks. However, adjusted basic profit saw an increase of 82 percent to $1.38 billion. The gross value of reservations also saw a significant increase of 20 percent to $37.7 billion, further evidence of Uber’s strength and growth potential.
Looking ahead to the second quarter, Uber expects the value of reservations to be between $38.75 and $40.25 billion. CEO Dara Khosrowshahi expressed optimism about the company’s performance and highlighted the strategies that drove growth in both the transportation and service divisions, including an increase in trips to airports and offices for transportation services and new customers and faster delivery times for service business.
Overall, Uber’s impressive revenue growth is a testament to its continued success as a leading player in the digital ride-hailing and delivery marketplace.