Uber has reported that its revenue ticked up 14% last quarter, marking a slower pace of growth than recent quarters when sales surged as riders returned to pre-pandemic habits.
The company on Tuesday reported revenue of $9.2 billion for the quarter ending in June, a 14% increase from the same period last year, just missing Wall Street's estimates. The number of trips customers took were up 22% in the quarter.
The company, reported its first-ever unadjusted operating profit, of $326 million. It also posted record quarterly free cash flow of $1.1 billion.
Uber also said gross bookings (the amount paid by customers) surged 16% year over year to $33.6 billion. Trips during the quarter grew 22% to 2.3 billion, or approximately 25 million trips per day on average.
"Robust demand, new growth initiatives, and continued cost discipline resulted in an excellent quarter," Uber CEO Dara Khosrowshahi said in a statement accompanying the results.
"These results also translated into strong driver and courier engagement, with 6 million drivers and couriers earning a record $15.1 billion during the quarter," Khosrowshahi added.
Shares for Uber climbed by some 4% in pre-market trading Tuesday morning as the company offered rosy guidance for the current quarter. Uber stock has roughly doubled since the start of the year.
Uber has so far navigated its pandemic recovery far better than its chief rival, Lyft. Lyft is set to report quarterly earnings next week on Tuesday.
