Uber has racked up tens of billions of dollars worth of losses since it first reported details of its finances in 2014 after company executives pursued a relentless plan for global expansion
Dara Khosrowshahi, who has led the firm since 2017, said:"Robust demand, new growth initiatives, and continued cost discipline resulted in an excellent quarter, with trips up 22% and a GAAP [generally accepted accounting principles] operating profit, for the first time in Uber's history."He added:"These results also translated into strong driver and courier engagement, with six million drivers and couriers earning a record $15.1bn during the quarter.
Shares in the company rose by 1% in pre-market trading on Tuesday after executives improved their forecasts for the present quarter. Uber now expects earnings before interest, taxes, depreciation, and amortisation to land between $975m and $1.025bn , compared with an estimate among Wall Street investors of $915m .Uber was the subject of an international investigation published last year by The Guardian after more than 100,000 files were leaked revealing the company's attempts to lobby politicians and cut access to their databases in the event of police raids.
The company said in a statement at the time it would not"make excuses for past behaviour that is clearly not in line with our present values".that they should be classed as workers, entitled to minimum wage and paid holidays.