Uber Technologies, Inc. (NYSE: UBER) on Thursday reported a sharp increase in third-quarter profit. Revenues of the ride-sharing giant increased 20% during the three months.
Net income attributable to the company increased multifold to $2.61 billion or $1.20 per share in the September quarter from $221 million or $0.10 per share in the corresponding quarter last year.
There was a 20% increase in net revenues to $11.2 billion in the third quarter from $9.3 billion in the same period of 2023. At $41.0 billion, gross bookings were up 16% year-over-year.
“We continue to build with an eye towards the future, optimizing our products for new customer segments and geographies, introducing Rider Verification nationwide to increase safety for drivers, and launching shuttles to airports and venues,” said Dara Khosrowshahi, chief executive officer of Uber.
