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Uber grows in revenue and active users, but loses $9 billion in 2022

Illustration: La Mandarina Dibujos

Uber (Android, iOS) ended 2022 with an 83% increase in its revenue, going from $17.46 billion last year to $31.88 billion in 2022. However, Uber recorded an annual loss of $9.14 billion dollars, while a year ago, the loss was 496 million dollars.

Among the reasons for such a decline is a net loss of $7 billion (before taxes) related to revaluations of investments made by Uber.

In Latin America, revenue rose 31% to $419 million over the year. In the United States, there was a 38% increase, to $3.61 billion.

Despite a difficult year, the fourth quarter of 2022 recorded very positive figures, such as 131 million monthly active users (MAU) on its platform, an increase of 11% compared to 2021, when it reached 118 million. As for drivers and couriers, the year ended with 5.4 million, and in the fourth quarter alone the earnings of these professionals reached approximately $10 billion, an increase of 37% compared to the previous year in constant currency. According to CEO Dara Khosrowshahi, 4Q22 was special for the company, being the best in the company’s entire history, capping off its strongest year ever. In those three months, 2.1 billion trips were requested on the app, which represents 1 million trips per hour. Throughout 2022, Uber made 7.64 billion trips.

In 4Q22, trips increased by 24% compared to a year ago, due to greater user engagement, whose average trips per month increased from five in 2022 to 5.4.

For 2023, Khosrowshahi remains optimistic: “Our first quarter guidance shows that we are entering the year with great momentum, with mobility demand accelerating and supply remaining resilient. We will continue to hold ourselves to high standards of growth and profitability to deliver another record year in 2023.”

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