Uber Drivers Completed 2.1 million Trips as Company Reports 'Strongest Quarter Ever' The ride-share company, Uber, released its end-of-year revenue results revealing it surpassed all previous company-wide growth.

“We ended 2022 with our strongest quarter ever, with robust demand and record margins,” Dara Khosrowshahi, CEO at Uber, said. “Our global scale and unique platform advantages position us well to accelerate this momentum into 2023.”

Despite the recent economic struggles faced by many companies, Uber achieved record-breaking revenue last year. The firm released its report, detailing the results of Q4 and the entire year of 2022, revealing a 49% growth in revenue compared to 2021. With a net income of $595 million, the company generated $8.6 billion in revenue just during the last quarter of the year. Furthermore, Uber reported a significant increase in gross bookings, with a jump from 12% in Q4 of 2021 to 17.7% in Q4 of 2022.

During the final quarter of 2022, Uber served 131 million customers and completed 2.1 billion trips, which was an increase from the 1.7 billion trips of the previous year. The company introduced a new cross-platform membership program known as "Uber One" in five countries, including France, Chile, Spain, Taiwan, and Japan, bringing the total number of countries with access to the program to twelve. According to the report, the firm anticipates further growth in 2023 and Khosrowshahi, stated at the World Economic Forum last month that he does not plan on implementing any company-wide job cuts, as reported by Reuters.

“In 2022, we significantly exceeded our profitability outlook, with an incremental margin of 10%,” Nelson Chai, CFO, said. “Our outlook for a Gross Bookings and Adjusted EBITDA steps up in Q1 builds on that progress, and sets us up for yet another record year.”