Uber reported its first operating profit ever in the second quarter.
CEO Dara Khosrowshahi said the company achieved its first quarter of free cash flow over $1 billion.
download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyUber stock is tumbling on Tuesday despite the company reporting its first-ever quarterly operating profit.
Uber has slashed hundreds of jobs this year— about 3% of staff — across its human resources, freight, and food-delivery divisions.
"I'm incredibly proud of the progress we've made, and Uber is well positioned to drive tremendous value for shareholders in the coming years."
Persons:
Uber, Dara Khosrowshahi, —, Nelson Chai, Chai
Organizations:
Service
Locations:
Wall, Silicon