Uber's Uber for Business platform continued to recover during the fourth quarter of 2021.
During the company’s Q4 earnings call, Dara Khosrowshahi, CEO, Uber, said it surpassed “its previous high from 2019 with well over $1 billion in annual run-rate gross bookings.”
Uber for Business fourth-quarter gross bookings were $1.3 billion, up 116 per cent year-on-year.
Managed Uber for Business, which is the actively managed portion of the business through Uber's account managers and sales team, reached 27 per cent of Uber for Business gross bookings.
The platform recorded "strong growth" in both mobility and delivery gross bookings as corporate use cases continue to grow, according to the company.
Khosrowshahi said: ”Over the next few years, U4B’s enterprise offering—which, importantly, spans both mobility and delivery—will significantly outpace our consumer business and become a meaningful contributor to growth and profitability.”
Airport gross bookings in Q4 2021 represented 13 per cent of mobility gross bookings, growing 24 per cent on the previous quarter and nearly 200 per cent year over year, "outpacing the overall mobility segment's recovery as consumer travel trends improved.”
The quarter's airport gross bookings in the United States were up about 175 per cent year over year, Khosrowshahi added.
Uber reported Q4 net income of $892 million, which compares with a net loss of $968 million a year prior. Adjusted EBITDA was $86 million, up from the $454 million loss reported for the quarter in 2020.
Overall gross bookings grew 51 per cent year over year to $25.9 billion, with mobility gross bookings of $11.3 billion, up 67 per cent year-on-year. Trips during the quarter grew 23 per cent year-on-year to 1.77 billion.