Uber beats projections, posts first profit since it became public ...Middle East

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Uber beats projections, posts first profit since it became public
Uber posted its first full-year profit since going public in 2019, marking the first time the ride-hailing company has earned money from its operations. The company on Wednesday posted a net income of $1.43 billion in the fourth quarter, after recovering a $1 billion tailwind from investments, Uber confirmed in a release. This is a steep jump from the $595 million the company reported in the same quarter last year, CNBC noted. The posting is higher than Wall Street's projections, The Associated Press reported, citing analysts polled by Zacks Investment Research. “2023 was an inflection point for Uber, proving that we can continue to generate strong, profitable growth at scale,”

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