Uber now seems set on a path to sustained profitability.
Will the company be able to kick off a streak?
Ride-sharing giant Uber reached a significant milestone this week.
The profit comes after years of heavy losses as Uber pursued rapid global growth at all costs.
Gross bookings for rides, food delivery, and other services surged 22 percent to $37.6 billion.
Uber stock hit an all-time high of $71.90 following the earnings beat.
The results validate Khosrowshahi’s strategy sincetaking overas CEO in 2017.
Khosrowshahi cleaned house, putting profitability and corporate responsibility ahead of unchecked expansion.
Labor practices remain a challenge, though.
We’ll have to wait and see how things play out this year.
Image credit:Viktor Avdeev
