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Uber's post-pandemic growth is slowing | CNN Business

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Uber has reported that its revenue ticked up 14% last quarter, marking a slower pace of growth than recent quarters when sales surged as riders returned to pre-pandemic habits

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.

 

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