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.
Uber expects strong core profit as ride share
FE Team | Published: February 08, 2024 00:38:11
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