Uber reported fourth-quarter earningsWednesday after-the bell According to analysts, the revenue beat estimates by more than a third of the company and they said the business is beginning to rebound from the adverse effects of the omicron virus surge.

In after-hours trading, the company stock rose more than 8%

Below are some key numbers

• Earnings per share: 44 cents, which is not comparable to estimates.
• Revenue:A Refinitiv survey of analysts found that $5.78 compares to $5.34 trillion.

A net income of $892million was reported by the company, including a $1.4billion net profit, pretax, from its equity investments.

Adjusted EBITDA was the earnings before interest tax, depreciation or amortization. It stood for earnings before any taxes and other expenses. It’s an increase of $540million over the quarter last year.

These are the top Uber business segments in the fourth Quarter of 2021.

• Mobility (gross Bookings) $11.3 billion, up 67% year-over-year
• Delivery$13.4Billion, Up 34% Year-Over-Year

Company’s delivery business (which includes Uber Eats) has been performing well. According to the company, its total number of delivery merchants increased to 825,000. The company’s $2.42 Billion delivery revenue is more than the $2.28 Billion generated by its ride-hailing core business. The freight revenue grew 245% to $1.08 Billion year-over-year.

Dara Khosrowshahi, Uber’s CEO, stated that while the variant of omicron coronavirus had weighed heavily on Uber’s business, numbers are beginning to rebound.

Khosrowshahi stated that Omicron variant started to affect our business late December. However, Mobility has already begun to rebound, with Gross Bookings increasing 25% month-on–month the last week.

At 5 pm, executives are scheduled to discuss the company’s delivery and first-quarter results during an investor call. ET. Uber continued to display signs of pandemic recovery throughout the U.S.

Uber recorded 1.77 billion rides on its platform in the last quarter. This is an increase of 8% over the previous quarter and 23% since 2020. The number of monthly active users on the platform grew by 8% to 118 million. The quarter saw $9.5 billion of revenue for couriers and drivers.

One indicator that pandemic recovery is airport gross bookings which accounted for 13% in its mobility gross bookeds. It represents an increase of 24% over the quarter before and nearly 2000% relative to the same period last year.

Uber announced that its gross bookings for the first quarter of 2022 will be between $25 billion-$26 billion. Uber expects an adjusted EBITDA between $100 million and $130 million.

Uber America’s biggest competitor Lyft reported their fourth-quarter financials Tuesday. Although adjusted earnings per share beat expectations and revenues were higher than expected, the company said that it has fewer active riders this quarter. It warned that its first-quarter results were being influenced by omicron.

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