Uber's last quarter of 2022 was it's "strongest quarter ever" after a few things worked in their favour.
👉 Background: We know Uber as the OG ridesharing app and the early movers in the food delivery space too. Over the past few years, Uber has really seen its different divisions ebb, flow, go up and plummet.
👉 What happened: With inflation surging globally and the economy uncertain, it was unclear how the overall Uber business would perform. But Uber has come out swinging - its revenue was up 49% year over year.
👉 What else: Uber said that the last quarter of 2022 was its “strongest quarter ever” after a number of macro events played into their favour.
What's the key learning?
💡Uber inflation, Uber revenue.. The macro economic conditions can provide a tailwind or headwind for businesses - depending where you sit.
💡Uber just happens to be perfectly positioned in our current economy.
💡 And now, investors are whetting their appetite for Uber to drop the potential “p” word this year (profit).
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