(Reuters) – Uber Technologies Inc raised its first-quarter profitability guidance on Monday, saying its mobility business was improving faster than expected, while customers continued ordering food deliveries at record numbers in February.
Uber said in a filing it now expected adjusted earnings before interest, taxes, depreciation and amortization of $130 million to $150 million in the first three months of the year, up from $100 million to $130 million it previously projected.
“Our mobility business is bouncing back from Omicron much faster than we expected,” Uber Chief Executive Dara Khosrowshahi said in a statement. He said consumers were eager to book rides for travel, commuting or nightlife.
Ride-hail trips in February remain only 10% below pre-pandemic 2019 levels in the same month, Uber said. February mobility gross bookings had recovered to 95% compared with February 2019.
On the delivery side, gross bookings reached an all-time high in February, the company said.
(Reporting by Tina Bellon in Austin, Texas; Editing by Krishna Chandra Eluri)
