Friday, 24 March, 2023

Uber posts high profit in Q1 as lives get back to normal

<p>Uber announced an EBITDA of about $130M to $150M which is quite a bit higher than the figure predicted in Q4 2021 earning call. The firm has said that demand is almost back to pre-pandemic levels and the amount of trips taken has recovered to about 90% when compared to February 2019 results. Uber CEO, Dara Khosrowshahi said that bookings originating from airports have increased 50% MoM and the company is expecting the upcoming holiday season to be the strongest ever.</p>