For the first time ever, Uber has recorded a positive cash flow, showing that the carpool company’s hardcore efforts to control costs are beginning to pay off, despite the fact that the economy is slowing down.
This quarter, more people used Uber, which resulted in a year over year 24 percent rise in rides.
However, the company’s positive cash flow, which shows that it is now making more money than it is losing through its commercial operations,
is the cherry on top for firm CEO Dara Khosrowshahi, who earlier this year stated that Uber would have to get hardcore about expenses.
The business announced that it now has 5 million drivers worldwide, a 31 percent increase from the previous year.
