> Last quarter they made $770 million on $12 billion of revenue.
Well, keep in mind that 7 of that 12 billion went to cost of revenue (aka money paid to drivers etc). Turning a $770M profit off the remaining $5B isn't too bad.
Well, keep in mind that 7 of that 12 billion went to cost of revenue (aka money paid to drivers etc). Turning a $770M profit off the remaining $5B isn't too bad.
There was something of a red flag in that last report as well in that for the first time as far as I can tell, profit grew exactly in line with trips and gross bookings. What that implies is that the unit economics are maxed out. The business is as profitable as it can be and their only hope is to add more riders.