Uber Posts First Annual Profit Since Its IPO

Uber Technologies posted its first full-year profit as a public company last year and projected continued growth in the first quarter of 2024, marking the end of an era in which the ride-sharing and food-delivery company gave priority to growth over profits. The company had a profit of $1.43 billion in the final three months of 2023, which included a $1 billion benefit from its equity investments as well as income from its operations. The company has turned an annual profit once before, in 2018 on the back of its investments, but it wasn’t earning money from its operations until now.