Uber's business is over the pandemic slump

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Uber has reported that its revenue grew 83% year-over-year to $5.8 billion in the final three months of 2021, as people increasingly turned to its ride-hail platform to get around and ordered food through its delivery service.

The company reported Wednesday that its revenue grew 83% year-over-year to $5.8 billion in the final three months of 2021, as people increasingly turned to its ride-hail platform to get around and ordered food through its delivery service."Our results demonstrate just how far we've come since the beginning of the pandemic," said Uber's CEO Dara Khosrowshahi in a statement accompanying the results.

"Khosrowshahi acknowledged that the surge in Covid cases from the Omicron variant did begin affecting its business in late December but he said its ride-hailing business"is already starting to bounce back."Uber had 118 million monthly active users on its platform last quarter, its highest amount to date and a 27% increase from the year prior.Read MoreShares of Uber jumped more than 5% in after hours following the earnings report.

 

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