Uber boosts first-quarter guidance

The New York-listed group said adjusted earnings before interest, tax, depreciation and amortisation were now expected to come in between $130m and $150m, up from its previous forecast for between $100m and $130m.

Uber attributed the improved outlook to better-than-expected demand for both cabs and food delivery services.

It said mobility demand had improved "significantly" during February, with trips up 90% compared to February 2019. Gross bookings, meanwhile, were ahead 95% against February 2019, with the delivery annualised run rate reaching an all-time high during the month, the firm said.

Chief executive Dara Khosrowshahi said: "Our mobility business is bouncing back from Omicron much faster than we expected.

"Whether for travel, commuting or going out at night, we’re seeing healthy and growing demand across all use cases, highlighting just how eager consumers are to get moving again. In fact gross bookings exiting February were up over 50% month-on-month and we’re preparing for the upcoming travel season to be one of the strongest sever."

As at 1300 shares in Uber had put on 4%.