For the second quarter in a row, ride hailing and delivery company Uber has posted net income, signaling a possible return to profit in the current fiscal year - something the company hasn't achieved since the year prior to its much anticipated but ultimately anti-climactic IPO in May 2019.
As this infographic shows, Uber recorded net income of almost $1 billion in 2018, before crashing heavily back into the red for the next four years. After nine months of 2023 though, a Q1 loss of $157m followed by net income of $394m and $221m in Q2 and Q3, respectively, has the company poised to end its fiscal year in the black.
