On Wednesday, Uber, a US-based digital ride-hailing and delivery services company, announced double-digit revenue growth. The company experienced a significant increase in the number of users and trips during the first three months of the year. Uber’s revenue increased by 15% compared to the same period last year, reaching $10.13 billion.
Revenue from transportation services rose by 29% to $5.6 billion, while revenue from delivery services increased by four percent to $3.2 billion. Additionally, the number of active users on the platform in a one-month period rose by 15%, and the number of trips increased by 21%. Despite this growth, Uber ended the quarter with a net loss of $654 million, three times higher than the previous year. However, adjusted basic profit surged by 82% to $1.38 billion. The gross value of reservations also increased by 20% to $37.7 billion.
CEO Dara Khosrowshahi attributed the growth in the transportation business to an increase in trips to airports and offices, while the service business saw growth from new customers and faster delivery times. For the second quarter, Uber expects the value of reservations to be in the range of $38.75 to $40.25 billion.