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Uber Technologies, Inc. (NYSE: UBER) reported a decline in net profit for the fourth quarter of 2022 when the ride-hailing company’s revenues increased by double digits amid strong booking growth.
Net income for the December quarter was $595 million or $0.29 per share, compared to $892 million or $0.44 per share in the corresponding period of last year.
Meanwhile, there was a 49% increase in net revenues to $8.61 billion in the most recent quarter from $5.78 billion in the fourth quarter of 2021. At $30.7 billion, gross bookings were up 19% year-over-year.
Check this space to read management/analysts’ comments on Uber’s Q4 2022 earnings
“Our global scale and unique platform advantages position us well to accelerate this momentum into 2023,” said Dara Khosrowshahi, chief executive officer of Uber.
Prior Performance
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