Uber Lifts Q1 Outlook; Mobility Business Bouncing Back Faster Than It Projected

Uber Technologies, Inc. (UBER), said, for first quarter, the company now expects: adjusted EBITDA between $130 million and $150 million, revised from prior guidance range of $100 million to $130 million. The company projects sequential improvement in both Mobility and Delivery segment adjusted EBITDA for the first quarter.

Uber noted that Mobility demand improved significantly through the month of February, with trips 90% recovered and gross bookings 95% recovered compared to February 2019.

"Our Mobility business is bouncing back from Omicron much faster than we expected," said Dara Khosrowshahi, CEO.

Shares of Uber Technologies were up 4% in pre-market trade on Monday.

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