Uber Technologies, Inc. (NYSE: UBER) on Tuesday reported a sharp increase in second-quarter profit. Revenues of the ride-sharing giant increased 16% during the three months.
Net income attributable to the company more than doubled to $1.02 billion or $0.47 per share in the June quarter from $394 million or $0.18 per share in the corresponding quarter last year.
There was a 16% increase in net revenues to $10.7 billion in the second quarter from $9.23 billion in the same period of 2023. At $40.0 billion, gross bookings were up 19% year-over-year.
“The Uber consumer has never been stronger–more people are using the platform, and more frequently, than ever before–while drivers and couriers earned a new all-time high of $17.9 billion over the quarter,” said Dara Khosrowshahi, chief executive officer of Uber.
