Uber reports first-ever gap operating profit

Uber announced its first-ever gap operating profit, along with strong top-line growth and increased margins. The company delivered a gap operating profit of $394 million and increased gross bookings to $33.6 billion, up 18% compared to the previous year. Uber attributed its success to cost discipline and efficient operations, focusing on making perfect matches between riders and drivers, as well as minimizing errors and cancellations. The company also highlighted its innovation in areas such as AI-powered algorithms for matching, driver support, and productivity applications. Despite concerns about growth, Uber expressed confidence in its ability to meet and exceed its future targets and continue to lead in the ridesharing industry.