Uber Raises Earnings Outlook on Rider Rebound; Shares Gain
- Trips recovered 90% in February compared with 2019 levels
- Delivery gross bookings reached an all-time high last month
Uber at Oakland International Airport in Oakland, California, U.S.
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Uber Technologies Inc. raised its forecast for earnings in the current quarter, defying concerns of a lasting impact on ride-hailing demand due to omicron. The shares jumped about 7% in New York as the market opened.
Adjusted earnings before interest, tax, depreciation and amortization are expected to be $130 million to $150 million, the San Francisco-based company said on Monday. That’s higher than the $100 million to $130 million Uber projected when it announced fourth-quarter results last month and more than the $120.4 million analysts are projecting, according to data compiled by Bloomberg.