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Zenger
Zenger
Business
Adam Eckert

Uber Reports Q2 Profitability, CEO Expects Continued Growth

Uber Dara Khosrowshahi CNBC
HOLMES-CHAPEL, ENGLAND- JULY 22: A Uber logo is displayed on a Uber car on July 22, 2023 in Holmes Chapel, England . (Photo by Nathan Stirk/Getty Images)

Uber Technologies Inc (NYSE: UBER) shares reacted positively to the company’s second-quarter results early Tuesday before pulling back. Following the print, CEO Dara Khosrowshahi said the company is just getting started on the profitability front.

What Happened: Uber reported second-quarter revenue of $9.23 billion, which missed the consensus estimate of $9.32 billion, according to Zenger News Pro. The ride sharing company reported quarterly adjusted earnings of 2 cents per share, which beat estimates for a loss of 1 cent per share. Uber turned in its first GAAP operating profit in company history, as well as its highest free cash flow of $1.1 billion.

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