Uber reports first annual profit since 2019

Uber has reported an annual profit (Nam Y Huh/AP)

Uber has reported its first full-year profit since going public in 2019 and its shares hit an all-time high as strong bookings in the final quarter of the year pushed revenue beyond Wall Street expectations.

Chief executive Dara Khosrowshahi said “2023 was an inflection point for Uber” after struggling through the Covid-19 pandemic when government lockdowns kept millions at home.