Uber reaches more than 2 billion rides in the quarter and projects expansion

Uber is a platform of private transport through a mobile application. Founded in 2009, the company is one of the world's largest car-sharing companies, operating in over 10,000 cities in over 70 countries. The company recently released financial results for the last quarter of 2022. The delivery and transport company exceeded projections, had its best year in history and broke a record for the number of races! Know more.

The company passed 2 billion rides in one quarter, according to CEO Dara Khosrowshahi for the first time in history. That's on average, 1 million rides per hour. Compared to the same period of 2021, it was a growth of 19%. The good results show that Uber has overcome the crisis faced at the beginning of the pandemic, when restrictions caused the number of rides to plummet dramatically.

Uber projects evolution

The company has also been praised for its innovation in

technology and for providing a convenient and affordable transportation alternative for many users around the world. The projections of Bloomberg indicated a loss of 12 cents per share, but Uber made a profit of 29 cents per share in the quarter ended December 31, 2022.

For the first quarter of 2023, the company expects to continue growing. Gross bookings are expected to grow between 20% and 24% compared to the first quarter of 2022, reaching US$ 31 billion. Uber has also expanded its operations into other market segments such as food delivery and logistics services. Thus, this metric that represents the total amount of money generated by Uber in all its businesses — rides, freight and delivery — before paying drivers and delivery partners.

Uber data affirms the upward trend in trips and improvement in financial results. As a result, Uber shares on the New York Stock Exchange rose 7% to trade at $37.58.

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