Tech Company Uber Benefits From an Increase in Taxi Rides

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Tech company Uber has earned more from its apps for taxi rides and ordering meals. The number of taxi rides carried out in particular rose sharply in the fourth quarter of last year.

 

The number of rides via Uber increased by almost a quarter compared to the same period last year. According to CEO Dara Khosrowshahi, this is related to a shift in which consumers spend less on things after the end of the coronavirus pandemic and prefer to spend on outings.

More than 19 billion dollars were spent on taxi rides via Uber in the last four months of 2023, 29 percent more than a year earlier. The meal delivery division also grew, but less rapidly. People ordered $17 billion worth of meals via Uber, 19 percent more than in the last quarter of 2022.

Uber itself achieved a turnover of 9.9 billion dollars, which at constant exchange rates is 13 percent more than a year earlier. The company subsequently made a profit of $ 1.4 billion, but Uber owed a large part of this to stock investments that had become more valuable. Uber increased profits from its main activities to $652 million.

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