The 'rides' division of Uber is profitable, or at least, was profitable before Covid. The rides division brought in a net positive of $742m in 2019. Uber as a

The 'rides' division of Uber is profitable, or at least, was profitable before Covid. The rides division brought in a net positive of $742m in 2019. Uber as a whole is not profitable since they lose money on their Eats, Freight, and self driving divisions. The Rides division has only recently been profitable; it lost money for over a decade and started being profitable in 2019. Rides is profitable because Uber has significantly reduced subsidizing rides. They also have cut expansion in many developing markets. Finally they raised prices in developed markets. See their 2019 Q4 financials - they now claim to make, on average, a 24% margin on every Uber ride. https://investor.uber.com/news-events/news/press-release-details/2020/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2019/ https://investor.uber.com/news-events/news/press-release-det... Uber as a whole can become profitable at any time by cutting their money-losing divisions.