Kudos to Uber Technologies (NYSE: UBER). Last quarter's top line of $8.8 billion was 29% better than the year-ago comparison and slightly above expectations. The operating loss of $0.08 per share is also a marked improvement on its loss in the first quarter of 2022, matching or beating most analyst estimates as well. Guidance for the quarter now underway implies growth on the order of 15%. The ride-hailing outfit continues to expand its reach.

The most exciting aspect of the company's first fiscal quarter, however, isn't being touted. Uber continues to grow its top line without spending a fortune to do so. Indeed, its relative costs continue to come down as it grows its business -- and operating income is in the immediate future.

It's a tired cliche, to be sure, but usually true nonetheless -- you have to spend money to make money.

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Source Fool.com