The company on Tuesday reported revenue of $9.2 billion for the quarter ending in June, a 14% increase from the same period last year, just missing Wall Street’s estimates. The number of trips customers took were up 22% in the quarter. The company reported its first-ever unadjusted operating profit of $326 million. It also posted record quarterly free cash flow of $1.1 billion.
Uber also announced Tuesday that Chief Financial Officer Nelson Chai will leave the company next January, and a search for his replacement is underway. “Nelson has been a huge part of Uber’s transformation over the past five years,” Khosrowshahi said on the analysts’ call. “I know that I speak for the entire company that we’re grateful for everything he’s done to establish such a strong foundation for a path forward.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk reactivates Kanye West's Twitter account following X rebrand | CNN BusinessX, formerly known as Twitter, has reinstated Kanye West’s account on the social media platform. West will not be able to monetize his account, and no ads will appear next to his posts, the company told the Wall Street Journal on Saturday.
Source: CNN - 🏆 4. / 95 Read more »
Illegal child labor is on the rise in a tight job market | CNN BusinessThere’s been a serious increase in child labor law violations in the US over the past few years. Well known companies, consumer-facing name brands, have been caught employing children for grueling work in dangerous conditions.
Source: CNN - 🏆 4. / 95 Read more »
'Barbenheimer' box office success has reawakened America's moviegoing muscle | CNN BusinessIt’s a tale of two movies and a box office triumph: “Barbie” and “Oppenheimer” maintained incredible momentum into their second weekends.
Source: CNN - 🏆 4. / 95 Read more »
China set to announce new stimulus measures as factory sector contracts for fourth month | CNN BusinessChina is preparing to announce new stimulus for its stumbling economy after the vast factory sector contracted for a fourth straight month, and a gauge of activity in its services sector slipped to a seven month low.
Source: cnni - 🏆 326. / 59 Read more »
Europe's economy is growing again as inflation continues to fall | CNN BusinessThe euro area economy is growing again.
Source: cnni - 🏆 326. / 59 Read more »