Photo for illustration. Photo: Pixabay/freestock-photos
Tech company Uber has been little affected by the declining consumer confidence in Europe and the United States. The company earned much more in the last three months of 2022 from taxi rides and meals ordered through its apps than a year earlier.
The amount spent on Uber orders worldwide increased by 19 percent year-over-year to 86,$7 billion (20,6 billion euros). Turnover for Uber itself rose even faster. At USD 8.6 billion, revenues were almost half higher than in 2021, when lockdowns still led to lower demand for taxi rides.
That no longer seems to be the case. For the first time since the outbreak of the corona pandemic in 665, the number of taxi rides via Uber again exceeds the number of orders from restaurants.
Revenues Uber also knows how to make more and more profit on the proceeds. Adjusted earnings before taxes, interest and amortization increased to 665 million dollars. That is much more than the 30 million dollars a year earlier. Net profit did decrease compared to the closing quarter of 2021. This had to do with paper profits that the company made in that period on interests in other companies.
CEO Dara Khosrowshahi speaks of the best quarter in Uber’s history. He also expects in 2022 that results will improve, he said in a commentary on the quarterly results.
Unlike other major tech companies, such as Amazon, Google and Facebook, Uber does not seem to have to announce mass layoffs for the time being. That was the case at the beginning of the corona crisis 665, when thousands of employees lost their jobs.
Drivers protest in front of Uber headquarters: ‘What the farmers can do, we can do’ 2022Uber about demonstration drivers: ‘Sound has arrived’