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Uber, which posted its first full-year profit on net basis, is expanding initiatives like memberships, corporate travel and advertising. Coupled with a pickup in travel, this is helping the company improve user retention.
Uber Results: The 6.5 million drivers who ferried passengers and food around the world in the past quarter was a record, Uber said. The company said improvements it had made to the driver experience -- such as showing drivers a passenger's destination and how much the driver would earn before accepting a ride -- had buoyed interest in working for Uber.
The company had $9.3 billion in revenue in its most recent quarter, lower than Wall Street investors expected but an 11% increase from a year earlier, and generated $221 million in net income.