Uber posted its first full-year profit since going public in 2019 and its stock hit an all-time high Wednesday as strong bookings in the final quarter of the year pushed profit and revenue beyond Wall Street expectations.
Like its final year as a private company, the last time Uber turned a profit, it got a huge tailwind from investments that helped fuel profits, $1 billion in 2023.
The company earned $595 million, or 29 cents per share, in the same period last year.
Revenue totaled $9.94 billion, beating Wall Street projections for $9.75 billion.
For the year, Uber posted a profit of $1.89 billion, or 87 cents per share, on revenue of $37.28 billion.
Persons:
Uber, ”, Dara Khosrowshahi, lockdowns, William Blair's Ralph Schackart, Gross, Khosrowshahi
Organizations:
Industry, Zacks Investment Research, Revenue, Uber Technologies Inc
Locations:
San Francisco