Uber Posts First-Ever Quarterly Profit But Revenue Misses Expectations While Rivals Show Strong Growth

Uber reported its first-ever quarterly operating profit, but revenue fell short of expectations and growth slowed.
Uber's main ride-hailing business saw revenues increase, but its freight segment declined 30% year-over-year.
Competitors like DoorDash and Lyft showed strong revenue growth even as Uber warned about competitive pricing pressure.
Uber's CEO expressed surprise at the high cost of a short Uber ride, even as the company has raised prices much faster than inflation.
While Uber finally achieved profitability after years of losses, its revenue growth is decelerating, leading to stock declines despite the profit.