"Uber Achieves Historic First Annual Profit Milestone"
Uber has reported its first-ever annual profit, with an operating profit of $1.1 billion and a net income of $1.9 billion in 2023, a significant turnaround from its $9.1 billion loss in 2022. CEO Dara Khosrowshahi attributes this to the company's ability to generate strong profitable growth at scale. Uber's progress comes after facing challenges during the pandemic, including a collapse in its rides business and driver supply issues. The company is now focusing on strengthening its financial position and expanding its services, including adding taxis to its app and investing in political races to elect friendly lawmakers in California.
