Uber’s earnings bouncing back as food delivery service finally shows a profit
by Kari Paul from on (#5VZPJ)
The company beat estimates to report a revenue of $5.8bn for the fourth quarter as Uber Eats posted an adjusted profit of $25m
Uber's food delivery service Uber Eats has turned profitable for the first time, the company said on Wednesday, in an earnings report that revealed it may be bouncing back after a rough run during lockdown.
Shares rose 6.8% in after-hours trading after the company's report showed $5.8bn in revenue for the fourth quarter of 2021, beating estimates of $5.36bn. It said demand for its ride-hailing service was again approaching pre-pandemic levels.
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