CEM REPORT, TRANSPORTATION | Ride-hailing service Uber has announced an increase in revenue, up by $8.8 billion in the first quarter of the year (Q1’23). This is a 29 per cent growth from what it recorded in the corresponding period of 2022.
In its Q1’23 financial report, Uber said gross bookings surged 19 per cent year-over-year to about $31.4 billion while the number of trips during the quarter grew 24 per cent compared to the same period last year.
CEO Dara Khosrowshahi said “Uber is off to a strong start in 2023,” adding that the company is “well positioned to improve our competitive position across our key markets.”
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Uber has continued to handle post-pandemic recovery well. Unlike its close rival Lyft which has announced a workforce reduction by 26 per cent, Uber is yet to take sure measures, indicative of steady finances.
