Uber, an American digital ride-hailing and delivery services company, reported a significant increase in revenue growth on Wednesday. The company’s revenue increased by 15 percent compared to the same period last year, reaching $10.13 billion. This growth was driven by an increase in the number of users and trips within the first three months of this year.
Revenue from transportation services rose by 29 percent to $5.6 billion, while revenue from delivery services increased by four percent to $3.2 billion. The number of active users on the platform in a one-month period rose by 15 percent, and the number of trips increased by 21 percent. Despite this growth, Uber ended the quarter with a net loss of $654 million, three times higher than the previous year. However, adjusted basic profit surged by 82 percent to $1.38 billion.
Uber CEO Dara Khosrowshahi attributed the growth in the transportation business to an increase in trips to airports and offices, while the service business saw growth from new customers and faster delivery times. For the second quarter, Uber expects the value of reservations to be in the range of $38.75 to $40.25 billion.
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