Uber Technologies anticipates a strong quarter with core profits and gross bookings surpassing expectations.
The ride-sharing and food delivery giant reported stellar results for the holiday quarter, marking its first annual net profit as a public company, with enhanced user retention and strategic initiatives such as memberships, corporate travel, and advertising contributing to this success.
Despite a more than 1% dip in shares due to deferred capital allocation announcements, Uber CEO Dara Khosrowshahi remains optimistic about potential buybacks and dividends, set to be discussed on the investor day, February 14.
The company projects adjusted earnings between $1.26 billion and $1.34 billion for the quarter ending March, along with a gross bookings forecast of $37 billion to $38.5 billion, exceeding expectations.
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