Uber Reports 15% Increase in Revenue, Despite Net Loss: The Future of Ride-Hailing and Delivery Services
Uber, an American digital ride-hailing and delivery services company, reported a 15 percent increase in revenue compared to the same period last year. The company saw a significant increase in the number of users and trips within the first three months of this year, reaching $10.13 billion. Revenue from transportation services rose by 29 percent to $5.6 billion, while revenue from delivery services increased by four percent to $3.2 billion.
Despite this growth, Uber ended the quarter with a net loss of $654 million, which was three times higher than the previous year. However, adjusted basic profit surged by 82 percent to $1.38 billion. The gross value of reservations also increased by 20 percent to $37.7 billion.
The CEO of Uber, Dara Khosrowshahi attributed the growth in the transportation business to an increase in trips to airports and offices, while the service business saw growth from new customers and faster delivery times. For the second quarter, Uber expects the value of reservations to be in the range of $38.75 to $40.25 billion.
