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Uber expects strong core profit as ride share, food delivery demand accelerates

Economic Times · 1y

Uber Technologies reported better-than-expected results for the holiday quarter, with higher demand in its ride-sharing and food delivery businesses. The company is expanding initiatives like memberships and corporate travel to improve user retention. Travel demand has been picking up as people step out more and companies call employees back to offices. Uber's forecast for the upcoming quarter includes a gross bookings range of $37 billion to $38.5 billion and adjusted earnings of $1.26 billion to $1.34 billion. Revenue for the fourth quarter increased 15% to $9.9 billion.