In Q2 to June 2023, the profitability of DoorDash and Uber Technologies improved, driven by stronger consumer demand for fast deliveries. DoorDash managed to limit losses in the U.S.A. and Uber moved into the black.
On 1 August, Uber Technologies (sales of US$9.2 billion in Q2 2023, up by 14% at constant exchange rates) published for the first time positive operating income for Q2 2023. Operating margin reached US$326 million (versus a US$713 million-loss one year ago) and net margin US$394 million (vs a loss of US$2.6 billion last year). After cutting almost 3% of its workforce this year, particularly in overseas meal delivery business, Uber said it would “close each quarter in the black” from now on.
The
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Article authors
Sophie Baqué
Chief Editor of mind Retail