Tina Bellon and Nivedita Balu

(Reuters) – Uber Technologies Inc (NYSE:) Thursday announced its first quarter of profitability on an adjusted basis in more than a decade since its launch. The company’s most significant segments, ride-hailing as well as restaurant delivery are now on the rise.

Uber claimed that consumers are traveling more and that drivers have returned to Uber’s platform during the third quarter. This suggests Uber’s massive incentivising payments for drivers were paying off.

California-based firm reported adjusted earnings before interest taxes, depreciation, amortization of $8 million in the third quarter. This measure excludes stock-based compensation and one-time costs. This is compared with a loss of $625million a year earlier.

Uber suffered a net loss of $2.4 Billion due to the decline in its Chinese ride-sharing company Didi, and stock-based payments.

According to Refinitiv’s IBES data, total revenue increased 72% to $4.8 Billion, exceeding the average analyst estimate $4.4 Billion.

The company’s mobility business (which includes the rides business) saw a 62% increase in revenue to $2.2 billion over last year. The quarterly revenue grew by 36%, and the unit margins returned back to pre-pandemic levels.

Uber’s Chief Executive Dara Khorowshahi said in a statement, “This year’s Halloween weekend was better than 2019, which suggests Americans were keen to be out.”

U.S. Airport Trips, which are among the most lucrative routes in the sector, have increased by 20% in recent weeks, Uber reported. Business trips increased 60%.

Nelson Chai, Uber’s Chief Financial Officer, stated in a statement that the core business of restaurant delivery was now profitable on an adjusted EBITDA basis for the third quarter.

Uber’s active monthly driver base and courier base in America has increased by 640,000 between January and February, although the company failed to provide information on the drivers numbers relative to the pre-pandemic level.

Uber’s Delivery Unit, which is largely comprised of Eats, has continued to be a success, although gross bookings were little changed from the previous quarter.

Deliveries, including restaurant deliveries and store delivery, reported an overall adjusted EBITDA loss in excess of $12,000,000, making the unit almost breakeven.

Uber’s backbone was delivery. Deliveries are still a strong business model for Uber.

Uber’s stellar earnings are a result of smaller U.S. competition Lyft Inc (NASDAQ:) on Tuesday announced its second quarter adjusted profit. The company also laid out its plan for sustained profitability.