A huge jump in revenue of 136% on an annual basis led to a boost to the supplier of hail and food supply Uber to record revenue recovery in the first quarter of 2022

The US-based company generated $ 6.9 billion in revenue between January and March this year, surpassing previous record quarters in Q4 2021 ($ 5.7 billion), Q3 2021 ($ 4.8 billion), Q2 2021 (3, $ 9 billion) and Q1 2020 ($ 3.2 billion).

Adusted EBITDA amounted to 168 million dollars, which is 527 million dollars more than the corresponding quarter of 2021.

The delivery business attracted nearly $ 14 billion in gross provisions on an annual basis in the first quarter, with mobility amounting to $ 10.7 billion (up 58% year-on-year).

The number of monthly active users of the service increased by 17% to 115 million in the first quarter compared to the same period in 2021.

The Uber For Business division has gross provisions of $ 1.2 billion, an increase of 91% year-on-year, according to the company’s latest revenue statement.

North America accounts for the largest share of revenue with a significant margin, contributing about $ 4.6 billion to the company, compared to $ 432 million for Latin America, Europe, the Middle East and Africa ($ 1.1 billion) and Asia-Pacific. the Pacific region ($ 733 million).

CEO Dara Khosrovshahi says: “Our results show how much progress we have made in getting out of the pandemic and how the strength of our platform differentiates our business performance.

“There has never been a more exciting time for innovation at Uber, and we are focused on implementing our strategy to grow our platform profitably.”

Uber forecasts gross reserves between $ 28.5 billion and $ 29.5 billion in the second quarter of 2022.

Khosrovshahi added: “After more than two years of constant and sometimes unpredictable impacts on our business, our Q1 results clearly show that we are on a strong path out of the pandemic.

https://www.phocuswire.com/Uber-Q1-2022-earnings

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