Uber Says On Track To Reach Quarterly Adj. EBITDA Profitability In 2021 - Quick Facts

Uber Technologies, Inc. (UBER) announced Monday that its gross bookings in March reached the highest monthly level in its nearly 12-year history. Uber added it is on track to reach quarterly Adjusted EBITDA profitability in 2021.

Its mobility business posted the best month since March 2020, crossing a $30 billion annualized gross bookings run-rate, with average daily gross bookings up 9% month-over-month.

Its delivery business set another all-time record, crossing a $52 billion annualized gross bookings run-rate in March, growing more than 150% year-over-year.

Uber said consumer demand for mobility is recovering faster than driver availability as vaccination rates increase in the U.S., and consumer demand for delivery continues to exceed courier availability.

On April 7, Uber announced that it is increasing investments in driver incentives to improve driver availability in the near-term.

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