Comment by ip26
2 years ago
Uber seems to have created a lot of opex (30k employees, high comp) setting a pretty high bar to reach profitability, and there are many substitute goods (planes, trains, your own car, bicycles, busses, walking). So they may not be positioned to truly corner consumers with prices high enough to reach profitability, even if they monopolize cabs.
Uber is profitable as of the fourth quarter of 2023. You will also note that around the time of their financial announcement[1] their stock price gained about 50% in share price, jumping from $40/share at the beginning of November to $60/share today, about six weeks later.
[1] https://investor.uber.com/news-events/news/press-release-det...