Uber Announces First Annual Profit Since IPO

Uber's strategic shift towards profitability and cost-cutting measures culminate in a historic annual profit, marking a significant turnaround for the ride-sharing giant.

Uber reports its first annual profit since going public in 2019, with a net income of $1.43 billion in the fourth quarter.
The company's strategic focus on cost-cutting and expansion of food delivery services contributes to its financial success.
Uber's gross bookings surged 22% year-over-year, with revenue up 15% in the fourth quarter.
CEO Dara Khosrowshahi highlights 2023 as an 'inflection point', signaling sustainable, profitable growth at scale.
Investors anticipate updates on capital allocation plans, including potential share buybacks, at Uber's upcoming investor day.