Uber Notches Another Profitable Quarter
By Chart R
After years of losses, Uber seems to be achieving what many startups suddenly want after years of growth-at-all-costs: profitability.
The ride-hailing giant reported $394m of operating profit in its results yesterday, the company’s second profitable operating quarter in its history. Improving the driver experience — a group that now stands at 6.5 million strong — along with the resurgence of corporate and back-to-school travel helped set record-high ridership levels, with Uber recording an all-time high number of monthly trips in October.
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