Uber’s Revenue Is Up 72 Percent From Last Year, but It Posts a Loss

Dara Khosrowshahi, Uber’s chief executive, has emphasized cost-cutting and profitability as other technology companies have sent signals of an industrywide slowdown at a time of persistent inflation, high interest rates and broader economic turbulence.

“Even as the macroeconomic environment remains uncertain, Uber’s core business is stronger than ever,” Mr. Khosrowshahi said in a statement.

Uber has focused on recruiting and retaining drivers while navigating stubbornly steep gas prices and legal disputes about how it classifies the employment status of its drivers. It said that the number of drivers on the platform has now returned to levels before the pandemic.

Last Friday, the company announced a series of safety features for drivers and riders, allowing drivers to film rides and both drivers and riders to record audio during rides. Uber also has changed how its app maps routes for drivers.

Uber is focused on “disciplined cost management to deliver on our growth and profitability commitments,” said Nelson Chai, Uber’s chief financial officer, in a statement.

Article source: https://www.nytimes.com/2022/11/01/technology/uber-revenue.html