Uber's revenue rose 29% in the first quarter compared with the same period last year, while its net loss shrank sharply by $157 million.

Thanks to CTOnews.com netizens Wu Yanzu in South China for the delivery of clues! CTOnews.com May 2 news, ride-hailing giant Uber today announced the first quarter of 2023 results:

Total bookings for the first quarter were $31.4 billion (CTOnews.com Note: currently about 217.602 billion yuan), an increase of 19% year on year

Revenue was $8.8 billion (currently about 60.984 billion yuan), up 29% from a year earlier

The net loss attributable to the company was $157 million (currently about RMB 1.088 billion), compared with a net loss of $5.93 billion (currently about RMB 41.095 billion) in the same period last year.

Adjusted EBITDA is $761 million (currently about 5.274 billion yuan), a year-on-year increase of $593 million.

Uber expects total bookings for the second quarter of 2023 to be $33 billion to $34 billion (currently about 228.69 billion to 235.62 billion yuan), with adjusted EBITDA of $800 million to $850 million (currently about 5.544 billion to 5.891 billion yuan).

"due to increased driver and consumer engagement, our travel growth rate accelerated significantly to 24% in the first quarter from 19% in the previous quarter, while mobile travel grew by 32%," said Dara Khosrowshahi, chief executive of Uber. Looking ahead, we are focused on expanding our products, size and platform advantage to maintain market-leading revenue and profit growth beyond 2023. "

Nelson Chai, chief financial officer of Uber, said: "We achieved record profitability and free cash flow in the first quarter and we are preparing to expand our profitability again in the second quarter."