Finally profitable. Uber achieved “our first-ever GAAP operating profit of $326 million and our first quarter of free cash flow over $1 billion, all the while delivering record platform engagement, strong top-line growth, and a new all-time high of $15.1 billion in total earnings for drivers and couriers on the platform.”
Overall growth is just ok with delivery slowing overall growth down. Gross Bookings grew 16% year-over-year to $33.6 billion. Mobility Gross Bookings were $16.7 billion, up 25% YOY. Delivery Gross Bookings were $15.6 billion, up 12% YOY. Trips during the quarter grew 22% YoY to 2.3 billion, or approximately 25 million trips per day on average.
If you are growing cash efficiently, investors like us will have a check for you, and we believe many other investors feel the same, especially in venture.
Sammy is the Managing Partner and Co-Founder of Blossom Street Ventures. Visit us at blossomstreetventures.com and email directly at sammy@blossomstreetventures.comhttps://blossomstreetventures.com/metrics/
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