Uber is expecting its first profits

Released on 21.09. 2021

  • The mobile app for ordering an Uber car is the foundation of the company. Photo: Carsten Koall

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Order an Uber via app – after more than a decade, the driving service is in the black.

San Francisco (dpa) – More than a decade after it was founded, Uber has the prospect of its first operating profit – at least after deducting various costs. The driver service broker burned billions of dollars in its global expansion with the promise of later profits made it, said Uber on Tuesday. This means that the company is on track to get out of the red operationally for the entire quarter, emphasized Chief Financial Officer Nelson Chai. At the same time, Uber is keeping a back door open. The forecast for adjusted earnings for interest, taxes, depreciation and amortization (Ebitda) in the current quarter has an unusually wide range between a minus of 25 Million dollars and a plus of 25 million dollars (21, 3 million euros).

Profitable through acquisitions

«We are clearly on the way to profitability, “said Uber boss Dara Khosrowshahi in the TV channel CNBC. In the past quarter, the driver service broker had already posted a net profit of 1.1 billion dollars – but only through the increase in value of investments in, for example, the Chinese driver service broker Didi or the robot car developer Aurora. Without these effects there would have been a loss of more than 25 million dollars.

In the Corona crisis, Uber’s previous core business with transport services sagged, and food deliveries became much more important as the second pillar of the business. Khosrowshahi responded to the pandemic with austerity measures and cut several thousand jobs, among other things. He also got out of the expensive development of his own software for autonomous driving and handed the department over to Aurora.

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