Uber announced $892 million in quarterly profit on Wednesday on higher revenue as the company reported a strong recovery in demand following the latest wave of Covid-19.
The San Francisco firm posted increases across all of its operations, including its flagship ride-hailing service, food delivery and cargo operations, which saw revenue more than triple 2020 levels.
Uber it also gained more active monthly consumers on the platform, and massive bookings and trips compared to last year’s levels.
Revenue rose 83% to $5.8 billion.
“Our results show how far we have come since the start of the pandemic,” said CEO Dara Khosrowshahi.
“While the omicron variant was starting to impact our business at the end of December, mobility was already starting to pick up with bookings up 25% month-on-month.”
Earnings were boosted by $1.4 billion of value linked to the company’s equity investments. The company had lost $968 million in the same period a year earlier.
kg