Uber just announced its first annual profit, which showed it generated more than $1 billion USD in earnings last year.
👉 Background: Uber rocked up to the ride-hailing market as a bit of an outsider. It went through lawsuits, near-bankruptcy, and was banned from many cities. And to make matters worse, it has also lost more than $31.5 billion USD since 2014.
👉 What happened: Now, Uber just announced its first annual profit from FY23. Uber generated more than $1 billion USD in earnings last year.
👉 What else: After these juicy results, Uber's investors are already salivating over the potential of a dividend payout. And although this wasn't expected in the past, times are changing.
💡Gone are the days when only old-school, blue-chip companies would be the only companies to deliver a dividend.
💡With higher interest rates and a more challenging economic environment, investors are expecting to recoup part of their investment sooner - even from tech companies.
💡Apple and Microsoft have been delivering dividends to their shareholders for a while now. And, Meta just announced its first-ever dividend payment of $5 billion USD. So it's only a matter of time before investors come rattling the tin.
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