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Uber Technologies, Inc. (NYSE: UBER ) reported a decline in net profit for the fourth quarter of 2022 as the ride-hailing company’s revenue doubled 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 last year.
Meanwhile, there was a 49% increase in net profit to $8.61 billion in the most recent quarter from $5.78 billion in the fourth quarter of 2021. At $30.7 billion, gross orders were up 19% year-on-year.
Check out this space to read management/analyst commentary on Uber’s Q4 2022 earnings
“The global scale and advantages of our unique platform allow us to accelerate this momentum into 2023,” said Dara Khosrowshahi, Uber’s chief executive officer.
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