New Delhi : Cab-hailing firm Uber will re-invest profits in its products and technology, emerging markets like India and to scale up its Uber Eats and JUMP businesses globally, its chief executive Dara Khosrowshahi said.
Khosrowshahi said the company’s core business has continued to perform very well and the number of trips on the platform grew 43 per cent, while bookings grew 55 per cent to $11.3 billion compared to last year.
Uber’s net revenue grew 67 per cent to $2.5 billion, while it cut losses to half compared to a year ago. “We are deliberately reinvesting our profits. Even with these impressive results, we’re not going to let up on the gas. We expect to reinvest our profits into our products and tech, emerging markets like the Middle East and India,” Khosrowshahi added.