Record Profit for Uber Due to Demand for Taxi Rides and Meals

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Tech company Uber Technologies saw demand for taxi rides and meals ordered through its apps rise sharply in the first quarter of this year.

 

Operating profit skyrocketed to an all-time high, from $168 million in the first quarter of last year to $761 million.

Turnover increased by 29 percent to 8.8 billion dollars. Uber mainly benefited from increased demand for travel after this had almost reached a standstill during the corona period.

People are also getting into a taxi more often. Therefore, most of the growth in the past quarter came from the taxi service.

Chief Financial Officer Nelson Chai expects profitability to increase further in the current second quarter. He says the operating profit is between 800 million and 850 million dollars.

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