Uber’s second-quarter performance featured several record statistics, including the company’s first quarterly profit, according to the company.
“We reached two important milestones this quarter, which demonstrates the significant transformation we’ve undergone towards profitable growth: our first-ever GAAP operating profit of $326 million, and our first quarter of free cash flow over $1 billion,” said Uber CEO Dara Khosrowshahi on a Tuesday earnings call.
Uber also reported second-quarter net income of $394 million, compared with a loss of $2.6 billion a year prior. Revenue was up 14 percent to $9.2 billion, while gross bookings reached $33.6 billion, up 16 percent from Q2 2022.
Mobility gross bookings were up 25 percent year over year to $16.7 billion and 12 percent versus the first quarter. Mobility revenue was up 38 percent to $4.9 billion, accounting for about 53 percent of total revenue.
Regionally, the United States and Canada reported second-quarter revenue of $5.1 billion, up 4 percent year over year, followed by Europe, the Middle East and Africa with $2.4 billion, up 31 percent from a year prior.
Total monthly active platform consumers increased 12 percent year over year and 5 percent quarter over quarter to 137 million. The number of trips rose 22 percent to nearly 2.3 billion.
During the quarter, the company launched its membership program Uber One in Costa Rica, South Africa and Sri Lanka, and is now available in 15 countries, according to the company.
Khosrowshahi also confirmed that Uber CFO Nelson Chai would depart the company on Jan. 5, 2024, and that a search for his successor was underway.
