Uber is officially profitable in the U.S., Uber CEO Travis Kalanick told Canadian publication BetaKit earlier this week. H/t to Fortune for peeling out the buried news in that story, which was titled “Travis Kalanick Speaks Out: Uber’s CEO On Risk, Regulation, and Women in Tech.”
Here’s the key chunk, straight out of the horse’s mouth:
“We’re profitable in the USA, but we’re losing over $1 billion a year in China,” Kalanick told BetaKit. “We have a fierce competitor that’s unprofitable in every city they exist in, but they’re buying up market share. I wish the world wasn’t that way. I prefer building rather than fundraising. But if I don’t participate in the fundraising bonanza, I’ll get squeezed out by others buying market share.”
Last year, Kalanick told employees that the company would be profitable in Q2 of this year, according to Bloomberg. It’s not clear when Uber became profitable. TechCrunch has reached out to Uber and will update this story if we receive any additional information.