Uber's cost cuts and layoffs have yielded its first operating profit ever
Posted on AllSides August 1st, 2023
From The Center
Uber posted its first operating profit ever in the second quarter, signaling a win for a company that has long been dawdling on the path to profitability. The second-quarter results were driven by continued demand for ride-hailing and delivery services but also by cost discipline, Dara Khosrowshahi, Uber’s CEO, said in a statement. Monthly active users have surpassed pre-pandemic levels, and demand for deliveries remained strong despite the reopening of restaurants.
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