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Uber's smooth operator Dara Khosrowshahi has done something Travis Kalanick never could: turn a profit

Business Insider

Business Insider · 9m

Uber's smooth operator Dara Khosrowshahi has done something Travis Kalanick never could: turn a profit

Uber has announced its first annual operating profit under the leadership of CEO Dara Khosrowshahi. The ride-hailing company reported an operating profit of $1.1 billion in 2023, a significant turnaround from the $1.8 billion loss in the previous year. Net profit also reached $1.9 billion compared to a massive $9.1 billion loss in 2022. Khosrowshahi's operational approach and decisions to cut exposure to risky ventures have played a crucial role in Uber's success. The company is now in a strong position, considering potential capital allocation plans for the future.

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Comments

Onkar Kota

Onkar KotaMaking life O(N)....

The quote about being "well-positioned to sustain strong, incremental profit generation" reflects confidence in the company's future.

Reply

4

9 months ago

Kamal Sharma

Still they hires engineers with hefty packages?! Cutting down there could've made them profitable years ago. Lol.

Reply

3

9 months ago

Kamal Sharma

All these years of operations on venture money! This is unreal. I wonder how many VCs and PEs investment their money and how many have got a return.

Reply

4

9 months ago

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