Uber GAAP profitable in Q2’23

Uber turned profitable in Q2’23. $9.2 billion in revenue, $326 million in operating income, $394 million in net profit (of which $386 million from revaluation of equity investment) and $1.1 billion in free cash flow.

After being one of the poster boys for startups losing a lot of money, getting to GAAP profitability (even if excluding the revaluation of equity) and significant free cash flow is a significant milestone and testament to work well done by the Uber team.

Author: Henrik Torstensson

Partner at Alliance VC. Investing in Nordic early-stage tech startups.

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