Uber misses first-quarter expectations immediately after recording its first annual profit

Uber lost a whopping $10 billion from just 2016 until its 2019 IPO. The next four years weren't particularly kind, either, as the outfit that redefined ridesharing continuously failed to turn a profit. That changed with Uber's 2023 profitable second quarter, which ultimately led to 2024 delivering the company's first entire year in the black.