Uber expects strong core profit as ride share

NEW YORK, Feb 07 (Reuters): Uber Technologies forecast quarterly core profit and gross bookings above estimates and reported market-beating results for the holiday quarter on Wednesday, fueled by higher demand in its ride sharing and food delivery businesses.
Uber, which posted its first full-year profit on net basis, is expanding initiatives like memberships, corporate travel and advertising. Coupled with a pickup in travel, this is helping the company improve user retention.
After a drop during the Covid years, travel demand picked up last year as people stepped out more and many companies called their employees to work from offices.