As Uber records first ever operating profit, what's their share price and net worth of CEO Dara Khosrowshahi?
Uber has recorded pre-tax earnings of £255m after 22% more trips were booked on the app in the year to the end of June
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Despite Uber recording their first operating profit, share prices in the American company have fallen. Reuters reported that “Uber’s shares fell 6% on Tuesday (1 August 2023) after the ride-hailing company warned Lyft was competing effectively on prices and set an earnings forecast that analysts said may have disappointed investors who have driven up the stock two-fold this year.”
At the time of writing, Uber’s share price is currently 5.68% down and is sitting at 46.65 USD. However, Uber’s chief executive Dara Khosrowshahi, who has been in charge of the firm since 2017, is obviously feeling elated that the company has recorded its first-ever operating profit, particularly because in the previous year, the company had recorded a $713m (£558m) loss.
Dara Khosrowshahi, the former CEO of the Expedia Group said: “Robust demand, new growth initiatives and continued cost discipline resulted in an excellent quarter, with trips up 22% and a GAAP (generally accepted accounting principles) operating profit, for the first time in Uber’s history.”
According to Sky News, “Boss Dara Khosrowshahi discussed his ambitions to make Uber a go-to travel platform as the firm reported its first-ever global operating profit.” It went on to say that “Flight bookings via the Uber app became available in the UK in May. It enabled train and coach bookings in the UK last year.”
How much is Dara Khosrowshahi worth?
In 2021, Forbes wrote that “Khosrowshahi waived his $1 million salary for 2020 starting May 1 (due to the pandemic), but he still earned $336,598 for the first four months of the year- then received a $1,560,000 cash bonus at the end of the year for meeting the company’s performance targets. Khosrowshahi’s total cash compensation in 2020, $1, 896,598 was 39 times larger than the average amount earned by his San Francisco-based couriers.”
Dara Khosrowshahi is married to Sydney Shapiro, the couple who wed in 2012 reportedly refer to themselves as 'sci-fi geeks,.' According to Business Insider India, "The wedding was held in Las Vegas and she was wearing a T-shirt from heavy metal band Slayer. They have four kids."