Uber Technologies said on Wednesday it would focus on delivering profits this year, after rounding off 2022 with blowout earnings as a surge in demand for airport and office rides helped the company rebound from pandemic lows.
Uber’s shares rose nearly 4 per cent at midday after the rideshare giant reported a surprise fourth-quarter profit and Chief Executive Dara Khosrowshahi reassured investors that the impact of the pandemic was “well and truly behind” the company.
“Despite any macroeconomic uncertainty, I’m more confident than ever in our prospects,” he said.
Uber forecast adjusted EBITDA, a profitability metric that excludes some costs, between $660 million (nearly Rs. 5,450 crore) and $700 million (nearly Rs. 5,790 crore) for the first quarter, well above the average analyst estimate of $593.06 million (nearly Rs. 4,900 crore), according to Refinitiv data.
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