Uber has been pushing to reach profitability in the US and Canada by the second quarter of 2016, and the company now says it’s made that goal, according to a new report by Bloomberg’s Eric Newcomer.
Just how profitable? Citing previously undisclosed financial documents, Bloomberg pegs Uber’s February US profit per ride at $0.19 (not including “interest, taxes, equity-based compensation for employees).
Uber takes 25% of the average fare, but most of it goes toward things like marketing, customer support, and software development.
Uber says that it booked 50 million rides in the US and 169 million worldwide in March, according to Bloomberg.
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