Re:Uber Posts First Quarterly Net Profit of $394M
by altacc on Tuesday August 01, 2023 @09:04AM
(#36955432)
Maybe wait and see if it really is a sustainable business first. Making a profit for 1 quarter after 50 quarters of loses whilst having over $9 billion of debt isn't strong proof that it will be profitable from now on. The numbers are positive though, it doesn't seem to be just a bookkeeping profit as they have a good rise in revenue & use. Personally I think if they keep running a tighter ship than they did pre-pandemic they might make a sustainable profit. Using profits for buybacks and dividends will be more attractive to shareholders than paying off debts as that's what most have been waiting for.
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