Uber Technologies, Inc. (NYSE: UBER) reported net income for the third quarter of 2023, compared to a loss last year, as the ride-hailing company’s revenues increased 11%.
Net income for the September quarter was $221 million or $0.10 per share, compared to a loss of $1.21 billion or $0.61 per share in the corresponding period of last year.
There was an 11% increase in net revenues to $9.3 billion in the most recent quarter from $8.3 billion in the third quarter of 2022. At $35.3 billion, gross bookings were up 21% year-over-year.
“Our relentless focus on improving the product experience for both consumers and drivers continued to power profitable growth, with trip growth accelerating to 25%,” said Dara Khosrowshahi, chief executive officer of Uber.
