Money

Uber finally records first ever profit

Published

2 months ago

August 2, 2023

ticker NEWS

Uber has achieved its first-ever operating profit, marking a significant milestone for the company.

The American ride-hailing giant recorded pre-tax earnings of $326 million from its operations after experiencing a 22% increase in trips booked on its platform in the year ending June. This turnaround follows a history of massive losses for Uber, which reported an operating loss of $713 million in the previous year. The company’s global expansion efforts since 2014 have contributed to tens of billions of dollars in losses.

Turnover rose by 14% to $9.2 billion, slightly below Wall Street traders’ predictions.

However, the company managed to control costs effectively, with only a 1% increase. This cost discipline, along with robust demand and new growth initiatives, has led to the historic quarterly rise in operating profit.

Uber’s CEO, Dara Khosrowshahi, highlighted the positive results, stating that strong demand and driver engagement contributed to the success. During the quarter, six million drivers and couriers earned a record $15.1 billion.

Shares in Uber rose by 1% in pre-market trading after the company improved its forecasts for the current quarter. Uber now expects earnings before interest, taxes, depreciation, and amortization to range between $975 million and $1.025 billion.

Uber has faced scrutiny in the past, including an investigation into its lobbying practices and the classification of its drivers as workers entitled to minimum wage and paid holidays.

However, the recent profit marks a positive shift for the company and demonstrates its ability to maintain growth and profitability in the competitive ride-hailing market.

Money

The importance of personal branding

Published

7 hours ago

September 26, 2023

ticker NEWS

How to position and build your own personal brand

If you’re into the world of innovative snacks and energetic entrepreneurship, you’ve likely heard of Jake Karls and Mid-Day Squares. This dynamic duo has taken the snack industry by storm, but what’s their secret, and what’s in store for the future?

Jake Karls is the co-founder of Mid-Day Squares, a brand that has carved a niche in the health and wellness market by providing delicious and nutritious chocolate bars.

He joined the Ticker Talks Growth hosts Liam Gostencnik and Tim O’Sullivan to discuss the journey of Mid-Day Squares and where they are heading next.

Watch part two of the interview here:

Money

Why is it so expensive to attend a wedding?

Published

12 hours ago

September 26, 2023

ticker NEWS

Guests are paying on average around $2,000 just to attend a loved one’s wedding.

We all know getting married is expensive, but it turns out even attending weddings can set you back a pretty packet.

New research by Finder shows that guests are on average spending nearly $2,000 just to attend.

Money

Chinese youth swap LinkedIn for Tinder to find a job

Published

15 hours ago

September 26, 2023

ticker NEWS

As LinkedIn withdraws from the Chinese market, young professionals and job seekers are turning to an unlikely platform in their quest for employment: Tinder.

This shift comes as a local news outlet recently reported the departure of LinkedIn from China.

Tinder, primarily known as a dating app, is now being repurposed by Chinese youth as a job-searching tool. Users are leveraging the platform’s network and communication features to connect with potential employers and explore career opportunities.

It appears to be a creative adaptation to fill the void left by LinkedIn, a platform renowned for professional networking.

This unconventional job-hunting trend has gained momentum, showcasing the adaptability and resourcefulness of the younger generation in China when faced with unexpected circumstances.

LinkedIn plans to maintain a certain level of presence in China, focusing on offering services to companies operating within the country. These services will facilitate hiring and training of employees based outside of China, as confirmed by a spokesperson from the company.