Ride share company Uber reported its revenue run-rate from advertising has passed $1 billion.
Overall revenue for the June quarter was up 16% to $US10.7 billion.
“Our advertising business performed well in Q2, reaching a revenue run-run rate of over $1 billion," said Uber CEO Dara Khosrowshahi.
"We continued to see strong adoption of Sponsored Listings on Uber Eats, particularly among enterprise advertisers.
“Importantly, our investments in custom measurement, attribution tools, and growing our commercial sales organisation have driven many enterprise brands to move from ad hoc campaigns to evergreen spend. As a result, advertiser retention and spend per advertiser are both up among enterprise brands.
“On the Grocery & Retail front, we’ve seen strong, global momentum in Sponsored Items and consumer packaged goods (CPG) display advertising, just 12 months after launch.
“Mobility advertising growth remained strong, especially as advertisers in more markets adopted video Journey Ads following last quarter’s expansion.
"In Q2, we took a step further by announcing that leading programmatic buyers (Google DV 360, The Trade Desk, Yahoo) can access Journey Ads, making this premium ads surface available to more advertisers.”
Australia had Uber's first advertising sales division outside the US.
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