Why Uber Shares Are Trading Higher Today

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Uber Technologies Inc. updated its guidance for the first quarter of Fiscal Year 2022.

Uber now sees adjusted EBITDA of $130 million – $150 million (up from $100 million – $130 million).

Uber sees a sequential improvement in both Mobility and Delivery segment Adjusted EBITDA (Q1 2022 over Q4 2021).

Uber’s mobility demand improved significantly through the month of February, with trips 90 percent recovered and Gross Bookings 95 percent recovered vs. February 2019.

Additionally, Delivery annualized run rate Gross Bookings reached an all-time high in February.

“Our Mobility business is bouncing back from Omicron much faster than we expected,” said Dara Khosrowshahi, CEO. “Whether for travel, commuting, or going out at night, we’re seeing healthy and growing demand across all use cases, highlighting just how eager consumers are to get moving again. In fact, airport Gross Bookings exiting February were up over 50 percent month-on-month, and we’re preparing for the upcoming travel season to be one of the strongest ever.”

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga

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